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CONTRIBUTIONS OF CO-OPERATIVE SOCIETIES TO ECONOMIC DEVELOPMENT IN KOGI STATE, NIGERIA
Abstract
This paper examined the contributions of cooperative societies to economic development in Kogi State, Nigeria. The paper also attempts to investigate the effects of cooperative societies to the economic development of Nigeria. Two research questions were formulated and posed for the study. The paper adopted a descriptive survey designed. The study was carried out in Yagba East Local Government Area of Kogi State, Nigeria. The population of the study was 750 respondents. The instrument for the data collection was structured questionnaire developed by the researchers. Frequency and percentages were used to answer the research questions. The findings of the study revealed that cooperative societies have been faced with the problem of inadequate financing to loan and equipping their members. The findings of the study also revealed that the major setbacks in establishing and running co-operative societies are lack of appropriate leadership and suitable management control. From the findings of the study, the study recommended that cooperative societies in Nigeria should make optimum use of all resources and strive continuously to enhance productivity of resources; ensure highest efficiency while providing services to members; improve management capabilities and competencies through effective organizational designs and structures; mobilize capital
and as well set greater stress on internal capital formation and accumulation. The study also recommended that the government should contribute significantly to improve cooperative performance by facilitating access of cooperatives support services and their human resource development.
Keywords: Cooperative Societies, Economic Development, Rebuilding, Society, Development