THE IMPACT OF COOPERATIVE SOCIETIES ON THE ECONOMIC DEVELOPMENT IN NIGERIA
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BACKGROUND OF THE STUDY
A cooperative is defined as "an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise" by the International Cooperative Alliance (ICA), which issued its Statement on the Cooperative Identity in 1995. This definition can be found in the ICA's document (Abell, 2021). It is a company that is voluntarily owned and managed by the patrons who are members of the organisation, and it is operated for those patrons and by those patrons on a cost basis or as a nonprofit (UWCC, 2002). Cooperatives are distinguished from other types of businesses by three distinct characteristics: ownership, control, and the use of services provided by the cooperative. This type of business enterprise strives to achieve complete identity among the component factors of ownership, control, and use of services (Birchall, 2022).
It is impossible to discuss the history of cooperative societies in Nigeria without mentioning the pioneering work done by great men such as C. F. Strickland, Major F. G. Haig, Captain W. J. W. Chessman, Captain A. G. C. Stainforth, Chief Akinpelu Obiasesan, O. Bateye, J. U. Eka (MBE), Chief A. A. Laditan, and R. M. Leslie, who was (Carroll, Etienne, Flores, & VonMuralt, 2021). It is fascinating to see that after thirty years and more, the advancements made by firms have had a very positive impact on all aspects and subsets of Nigeria's society and economy. Since agriculture is the primary sector of Nigeria's economy, it is only logical that agricultural cooperatives would come into existence in the country before any other kind of commercial organisation. Whenever there is a discussion about cooperatives, the topic always begins and ends with agro-allied products and agricultural goods (Abell, 2021). The Agricultural Department, which has its headquarters in Ibadan, brought together the cocoa farmers of the Western Region to form a group so that they could be instructed in more effective planting and processing techniques (Birchall, 2022). These cooperatives were taken over by the newly established Cooperative Division of the Agricultural Department in 1936 for the purpose of organised marketing after having been in existence since the previous year. The same year, for the same reason, many other organisations in Eastern Nigeria that were engaged in the production of palm products were also taken over by cooperatives. These groups were also taken over by cooperatives (Carroll, Etienne, Flores, & VonMuralt, 2021). It was during this time era that the Abeokuta Catholic Teachers established the first Thrift and Loan Society, and it was also during this time period that the first Thrift and Credit Societies came into existence. By the end of 1943, there were already 180 cooperative societies registered, and by the conclusion of the first 10 years after their formation, cooperative societies had established themselves firmly across the nation (Abell, 2021).
The Rochdale Society, which also created between 1850 and 1855 a flourmill, a shoe factory, and a textile plant, served as a successful model of cooperative company that was rapidly replicated throughout the country (Birchall, 2022). By 1863, there were over 400 cooperative societies in existence across the United Kingdom, all of which took their cue from the Rochdale Society. After then, the movement in England continued to grow, and it eventually became the model for movements of a similar nature all over the world. Countries in Europe such as France, Germany, Belgium, Austria, Italy, Denmark, Finland, Norway, and Sweden stand out as particularly notable examples of those in which consumer cooperation was first met with early popular support (Abell, 2004).
According to Lawal (1982), this organisation is an example of an industrial organisation since it allows a group of individuals to work together as consumers to produce a commodity, and then the profits from that commodity are split among the participants. According to Brown (1986), a cooperative society can be defined as a type of business organisation in which a group of people who share a common interest mutually agree to join together to establish this business in order to promote their economic activities, such as the production, distribution, or marketing of goods and services, and for the provision of welfare benefits to their members (Birchall, 2022). It is possible to argue that the definition provided by the International Labour Organization – ILO is the most inclusive of all of these. According to this definition, a cooperative is "an organisation of persons, usually of limited means who have voluntarily joined together to achieve a common economic end through the formation of a democratically controlled business organisation making equitable contribution to the capital required, and accepting fair share of the risks and benefits" (ILOWorkers Manual, 1978).
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