THE IMPACT OF CO-OPERATIVE ORGANIZATION (MULTI PURPOSE) IN THE ECONOMIC DEVELOPMENT

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THE IMPACT OF CO-OPERATIVE ORGANIZATION (MULTI PURPOSE) IN THE ECONOMIC DEVELOPMENT OF ENUGU STATE

ABSTRACT

This project work is a detailed study of co-operative organization with special attention to their contribution in the economic development of Enugu state. The major objectives of this study is to the area in which co-operative organization has bettered the lots of the people sustain their economic needs improve their standard of living, alleviate the unemployment problems and to appraise the general impact. Due to time constraint and other limitations of this study, the research covers the impact of co-operative organization (multi purpose) in Enugu state. The major findings of this study are as follows: Co-operative organization helps in uplifting living standard of the people. Co-operative organization involves in the development of the place. Co-operative organization helps in controlling inflation. The economic life of the people improved by the co-operative organization.

CHAPTER ONE

INTRODUCTION

1.1     BACKGROUND TO THE STUDY

Organization is association where one is free to enter and also independent of itself. It is for the betterment of its members economic condition since the commencement of the co-operative association (society) in the world in 1854 and in Nigeria following the submission of Strickland report on 27 April 1974 co-operative organization has come to be. Co-operative organizations are not public institutions nor government agencies for the execution of government plans rather co-operative is for the people with common interest as a defense mechanism to fight against the situation brought about by the adverse socio-economic conditions. Due to the adverse socio-economic conditions presently hitting the nation people cannot get all that they need. Hence the best way they can get reasonable satisfaction of their needs is by coming together to pull their resources so as to solve their economics problems. Since the commencement of co-operative organization in Enugu metropolis it has to a large extent helped in the economic development of the area. Though, co-operative societies have been seen to have some problems. The problems are not only peculiar to this area alone rather to the nation as a whole. The research study centered on the worst problems that are peculiar to co-operative societies in Enugu metropolis.

1.2     STATEMENT OF THE PROBLEMS

The current Nigeria economic situation calls for hard work this period in the country’s economic development could emerge a turning point in the nations history. The scope of co-operative organization as an active element in the creation of economic development has never been a debate. That co-operative society with their integrated resources control inflation by increasing food supply and improved distribution channels. Co-operative organization develops both in both agriculture and small-scale business. Co-operative organization creates employment opportunities hence reducing the unemployment problems facing the country and Enugu in particular. The co-operative societies provide educational services to its members.