The Role of Cooperative Organizations in Rural Community Development in Nigeria: Prospects and Challenges

Cooperative organizations serves as an effective rural community development vehicle by their nature they build economic self reliance and civil society. The paper examined the historical development of cooperative organizations that is how friendly societies emerged among working class group to protect themselves against life hazards through mutual insurance, numbering over a million by 1834, the concepts of cooperative organization and types were also highlighted, cooperative principles were discussed amongst which open and voluntary membership, membership economic participation, autonomy and independence. The paper went ahead to discussed on the roles of cooperative organizations in rural community development. Challenges and prospects were enumerated and discussed. Finally suggestions were proffered on how to improve on the activities of cooperative organization in Nigeria which include amongst others: need to educate members of cooperative organizations for optimum results, there should be proper supervision by government, organize literacy programme for members at grassroots.