Co-Operative Society in Nigeria – Registration, Rules and Regulations

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Co-Operative Society in Nigeria – Registration, Rules, Regulations and Advantages

CO-OPERATIVE SOCIETY IN NIGERIA – REGISTRATION, RULES, REGULATIONS AND ADVANTAGES

1.1 BACKGROUND OF THE STUDY

A co-operative society as an organization of people of common interest whose aim is to cater for the general good and interest of its members. People wonder why co-operatives are formed, its contribution to the economic problem of masses.

This now gives rise to the answer which recommends co-operative as a speedy vehicle for economic and social transformation of the economies.

Many developing countries have embraced the co-operative form of enterprise while others are embracing it at a past rate that is based on the achievement of past rate of economic growth to enhance the living standard of their people. The distinctive gesture of the co-operative organization appears to make it suitable for the promotion of high standard of living in countries that possess the endowment of the present day developing economies.

Historically, co-operative have developed in response to some different situations and its solution should be the aims of the formation of any co-operative society. The birth of co-operative is associated with the people who experienced some hardships and were under privileged as compared with other people.

The present developing countries are under privileged as compared to advanced countries. Their people are I poorer condition and they experience low standard of living. Secondly, even within anyone of these countries, there are two major groups, urban format enjoy modern amenities like tarred road, pipe born water, electricity, etc. The later lacks most of the materials, it would therefore be expected that co-operative spirit would be developed in these countries especially among the under privileged rural dwellers, it is because of the benefits which these area can derive from co-operative that lead many government in developing co-operative societies in the rural area of these countries.

These include agricultural co-operative and these are responsible for marketing as well as distribution of essential consumer goods, also commerce, industry and technology among others.

Despite all these government support and early origin owned by Nigeria, it has not contributed enough progress to the rural co-operative especially to so many problems faced by Nigeria co-operative societies.

THE IMPORTANCE ONCE ARE KNOWN TO BE:

a) Inadequate funding.

b) Problem of poor administration.

c) Lack of education among the rank file membership.

d) Apathy in the management of co-operative matter, etc.

But before this problems arise, solid foundation must have been laid. This concerns the viable formation of co-operative societies. It is therefore against this background that the write wishes to examine the fine turnings entailed in organizing to viable co-operative societies in Nigeria.

 

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To place an order for the Complete Project Material above (Research, References, Methodology etc) pay N5,000 to: GTBank (Guaranty Trust Bank) Account Name – Obasi Emmanuel Account No – 0044059218 After payment text your name, Project topic and your e-mail address to 08022220630.

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