CO-OPERATIVE SOCIETIES AS A VOLUNTARY ORGANIZATION IN POVERTY ALLEVIATION
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CO-OPERATIVE SOCIETIES AS A VOLUNTARY ORGANIZATION IN POVERTY ALLEVIATION
Chapter one
INTRODUCTION
Background of the study
Cooperative societies’ impact on poverty alleviation in Nigeria and around the world cannot be overstated.
“Robin (2011:119), defines cooperative
Society as an association for the primary
objective of promoting its members and society.
Financial interest in which they engage.
in the firm as customers and suppliers”.
Any excess returns remain in the business or are distributed among members based on the volume of business they do with the venture. None of the members are personally liable for the enterprise’s liabilities.
“Long Rich’s (2013:592) book title:
Cooperatives and Poverty
Decrease in Ghana claimed that:
Cooperative societies are autonomous.
Associations created democratically.
led by people who join together.
To have common economic, social, and
“Cultural need”.
Cooperative societies, founded on the principle of participatory governance, are governed by the people who use their services: its members. Lonuge rich goes on to say that, based on the ideals of empowerment, education, and community, co-operative societies work laterally to promote and participate in both their own organisation and through an emphasis on community contact and support. Cooperative societies have long been recognised as playing vital roles in society, resulting in improved living conditions for the majority.
In addition, its members, particularly those with modest incomes, contribute to population cures. Being voluntary, democratic, and self-sufficient provide the institutional framework through which local communities gain control over the productive activities that provide them with efforts and economic activities for their livelihood (OFEIL2011:14).
Participating members tap into the energy of group efforts and economic activities that they would not have been able to carry out on their own, so increasing their prospects of improving their living situations.
As a result, cooperative societies continue to be supported in Akwa Ibom State, Nigeria as a whole, and other regions of the developing world as a favoured weapon for poverty alleviation.
“Hussi, Paul, Zazi, Mathew, and Rose 2013 states.”
Cooperative societies are primarily designed to
reduce poverty among people because
A cooperative society’s objective is to meet.
the members’ shared, perceived needs
the general population in terms of social economic needs
individual’s cultural aspirations
Thereby supporting the work of the government
towards the reduction of poverty in societies.”
Cooperative societies in Akwa Ibom state are dedicated to receiving policies that will reduce poverty in the state by improving the economic, cultural, social, and psychological conditions of both its members and the broader public.
It has also been highlighted that cooperative societies have made remarkable efforts to significantly reduce the bad living conditions of the state’s impoverished.
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