THE ECONOMIC IMPORTANCE OF COOPERATIVE SOCIETIES: A CASE STUDY OF ORHIONMWON LOCAL GOVERNMENT AREA OF EDO STATE
ABSTRACT
The purpose of this study is to examine the economic importance of cooperative societies in Orhionmwon Local Government Area of Edo State. In carrying out this research, the area of questionnaire and other secondary means were adopted to collect the required data. It was observed that a reasonable percentage of these cooperative societies had appreciable impact on members and communities in which they are located. The study also revealed that these societies also have some constraints which include mis-management, overdue loans, embezzlement and lack of frequent meetings. In the light of the constraint, some useful suggestions were made as a way of enhancing cooperative in the Local Government Area.
CHAPTER ONE
INTRODUCTION
- BACKGROUND TO THE STUDY
The study is carried out to identify the research importance of cooperative society in Orhionmwon Local Government Area of Edo State. Orhionmwon Local Government Area is situated in the Southern and Eastern left bank of the river Nigeria. The area is bounded on the worth by Kogi State on the East by river Niger, on Etsako West, Etsako East, Etsako Central and Etsako North. The administrative headquarters of Orhionmwon Local Government Area is Abudu most of the inhabitant are farmers who main produce are yams, cassava, rubber, coffee and cocoa. There are also traders who trade on food items clothes and petty retail shops are also found in the area. The prominent mineral found in Orhionmwon is lime stone and as such Okpella cement factory is located there.The report on the introduction of cooperative societies in Nigeria by strict land shows that cooperative societies began to develop in Nigeria about 1925 with the appointment of a registrar of cooperative. A cocoa marketing society was formed in 1925 in Gbedum and many others where later formed. It can therefore be said that, at present many types of cooperative societies exist in Nigeria. They include, agricultural produce marketing societies, consumer cooperative societies, thrift and loans societies and multi-purpose cooperative societies. Some of these societies now exist in Orhionmwon Local Government Area. The cooperative societies were established in Uzairue in 1933 and they were mainly farm produce cooperative society. To this effect, cooperative societies are very important economically; this does not means that they do not have some problem research is therefore an attempt to investigate the favourable and unfavourable impact of cooperative societies in Orhionmwon.         Â
