SOCIAL AND ECONOMIC BENEFITS OF WORKERS IN INDUSTRIAL COOPERATIVE (A CASE STUDY OF INYABA COOPERATIVE FARMS LTD ANAMBRA STATE)

 SOCIAL AND ECONOMIC BENEFITS OF WORKERS IN INDUSTRIAL COOPERATIVE (A CASE STUDY OF INYABA COOPERATIVE FARMS LTD ANAMBRA STATE)

CHAPTER ONE

1.0 INTRODUCTION

Workers cooperative is an enterprise in which workers share in the profits and it is a business in which the workers retain a majority control of the enterprise control is exercised democratically on the basis of one person, one role, Membership is open as far as possible to all workers and there are limit on the return to capital invested in the enterprises.

Over the years, capital; has hired lab our and treated it like an expendable factors of production same as any other factor, capital has explored labour and subjected it to the imperialism of profit maximization capital has claimed all the authority and all met profit while disclaiming full liability for the debts of he enterprise incase of liquidation. But now, Worker want all that to change these days there was change, labour will live capital. A famous co-operative maxim says” Labour hires capital, in the new workers ownership capital will not be divided into equity share because if will be owned collectively.

Examples are producing durable goods and nourishing goods, additive free goods not highly processed snack adopting methods, of production devoid of polluting effects, refusal to produce war related material or to deal with government practicing, racial segregation.

These workers industrial cooperatives have social objective as well as economic objectives.

They won’t out man at the centre of business, they place democratic control and the nature of the product before profitability. They employ technology that is friendly to the environment. As long as the enterprise can cover its costs and break even they fell free, to pursuer their social objectives. The capital assets of an industrial cooperative should be jealously guarded. It should maintain intact and progressively expanded and developed facilities. The aim should be to catch up with completing capitalist out lifts in terms of capital base. With drawing members should be required to leave their share capital behind. If members decided to dissolve their society, it should not be in order to share them asset.

Both the lam should absolutely forbid the saving of the net assets among member upon dissolution. Net assets should rather be transferred to another workers in industrial co-operative.

Workers in industrial co-operative to ameliorate the hardship especially the poverty of the working people with a view to increase their social order that ensure the poorest members of the working class sufficient wellbeing for feature would be to expensive for the people to bearing for instance it could generate permanent cynical apathy to government and society programme and alienation of the very low income group in economic activity. The idea of workers co-operative is a step, in the right direction especially in the face of harsh economic realistic resulting from the structural Adjustment programme (SAP)> this study, will therefore identify the objective role, possible problems prospects associated with the workers co-operatives, suggest remedies to the problems and make recommendation with a view to reforming the worker co-operative into achieving their stated objectives,

1.1 BACKGROUND SO THE STUDY

The history of cooperative development in Anambra state may be traced from its origin in Nigeria. It was in the early 1930’s that the agricultural development agents began to organize cocoa farmers in westerns Nigeria into small co-operative organizations.

Efforts were made between those periods to establish a co-operative division. This before it could long. An enviable and viable co-operative division was established. The division was formally under the ministry of local government, but through several resettlements and changes of government. It finally came through the ministry of commerce and industries.

The estate inherited a total number of 685 co-operative societies from the former Eastern state with membership of 15,155. As a result of individual desires and government encouragement coupled with the interest benefits desirable from the formation of co-operatives in the state has increased atomically to 2,757 which also increased membership of 86,812.

Through, the number of co-operative societies in the state has drastically reduced since the creation of Abia state. It will be necessary to know that the benefit of workers co-operative since the topic is social and economics benefits of workers in industrial co-operative. Workers in industrial co-operative it involved workers share in the profits and it is a business in which the workers retain a majority control of the enterprise control is exercised democratically on the basis of one person one rote-Membership is open as far as possible to all workers there are limit in the return to capital invest in the enterprises.

 SOCIAL AND ECONOMIC BENEFITS OF WORKERS IN INDUSTRIAL COOPERATIVE (A CASE STUDY OF INYABA COOPERATIVE FARMS LTD ANAMBRA STATE)