Table of Contents
ABSTRACT.. 2
CHAPTER ONE.. 5
INTRODUCTION.. 5
1.1 Background to the Study. 5
1.2 Statement of the Problem... 6
1.3 Objectives of the Study. 8
1.4 Research Questions. 8
1.5 Research Hypothesis. 9
1.6 Significance of the Study. 9
1.7 Scope of the Study. 10
1.8 Limitations of the Study. 10
1.9 Organization of the Study. 10
CHAPTER TWO.. 13
REVIEW OF RELATED LITERATURE.. 13
2.1 Introduction.. 13
2.2 Theoretical Review.. 13
2.3 Conceptual Review.. 15
2.4 Empirical Review.. 19
2.5 Summary of Chapter. 21
Chapter Three. 22
Research Methodology. 22
3.1 Introduction.. 22
3.2 Research Design.. 22
3.3 Area of the Study. 22
3.4 Population and Sampling Techniques. 23
3.5 Data Collection Methods. 23
3.6 Data Analysis. 24
3.7 Ethical Considerations. 24
3.8 Limitations of the Study. 24
3.9 Validity and Reliability. 25
3.10 Summary. 26
4.4 Discussion of Findings. 42
CHAPTER FIVE.. 47
SUMMARY CONCLUSION AND RECOMMENDATIONS.. 47
5.1 Summary of Findings. 47
5.2 CONCLUSION.. 48
5.3 RECOMMENDATIONS.. 50
REFERENCES.. 52
APPENDIX.. 55
Research Questionnaire: Impact of Cooperatives on Economic Growth and Development in Nigeria.. 55
CHAPTER ONE
INTRODUCTION
1.1 Background to the Study
Cooperatives play a pivotal role in shaping economic growth and development in Nigeria, offering a unique model of collective action and socio-economic empowerment. This introductory exploration delves into the multifaceted impact of cooperatives on Nigeria's economy, highlighting their significance in fostering inclusive growth, reducing poverty, and promoting sustainable development. Olaitan, M. A., & Fakayode, S. B. (2018).
Firstly, cooperatives serve as catalysts for inclusive economic growth by mobilizing resources and providing a platform for marginalized groups, such as small-scale farmers, artisans, and women, to access markets, credit, and technical assistance. Through cooperative enterprises, individuals pool their resources, share risks, and collectively pursue economic activities, thereby amplifying their bargaining power and enhancing their resilience against market uncertainties and external shocks. Okoye, B. C., Ezejiofor, R. A., & Nwibo, S. U. (2019).
Moreover, cooperatives contribute to poverty reduction by generating employment opportunities, enhancing productivity, and fostering wealth distribution. By facilitating access to inputs, knowledge, and infrastructure, cooperatives empower members to improve their livelihoods and break the cycle of poverty. Additionally, cooperatives promote social cohesion and solidarity among community members, fostering a sense of ownership and responsibility towards common goals and collective prosperity. Olayide, O. E., & Heidhues, F. (2018).
Furthermore, the impact of cooperatives extends beyond the economic realm, influencing social and political dynamics in Nigeria. As autonomous, member-owned organizations, cooperatives embody democratic principles and participatory decision-making processes, empowering individuals to shape their own development trajectories and hold authorities accountable. By fostering grassroots democracy and civic engagement, cooperatives contribute to building inclusive institutions and fostering a conducive environment for sustainable development.
Oladipo, O. A., Ojo, O. E., & Oni (2020).
1.2 Statement of the Problem
The impact of cooperatives on economic growth and development in Nigeria represents a critical issue requiring comprehensive investigation and analysis. Despite Nigeria's rich potential for economic advancement, the country continues to face numerous developmental challenges, including poverty, unemployment, and income inequality. Cooperatives, as a form of collective enterprise, have been touted as potential vehicles for addressing these challenges by fostering inclusive economic growth, empowering marginalized groups, and promoting community development. However, the extent to which cooperatives contribute to Nigeria's economic growth and development remains unclear, as there is a lack of empirical evidence and systematic research examining their impact across various sectors and regions of the country. Thus, understanding the dynamics and mechanisms through which cooperatives influence economic growth and development in Nigeria is crucial for policymakers, practitioners, and stakeholders to design effective strategies and interventions aimed at harnessing the full potential of cooperative enterprises for sustainable development. Olaitan, M. A., & Fakayode, S. B. (2018).
To address this gap in knowledge, this study seeks to investigate the impact of cooperatives on economic growth and development in Nigeria through a multifaceted approach. By employing both quantitative and qualitative methods, including surveys, interviews, and case studies, the research aims to examine the role of cooperatives in key sectors such as agriculture, manufacturing, and finance, as well as their contribution to poverty reduction, job creation, and social inclusion. Additionally, the study will explore the enabling factors and barriers that affect the performance and effectiveness of cooperatives in Nigeria, including institutional support, governance structures, and external market dynamics. Ultimately, the findings of this research endeavor will not only contribute to the academic literature on cooperative economics but also provide valuable insights for policymakers and practitioners seeking to leverage cooperatives as a catalyst for economic growth and development in Nigeria. . Okoye, B. C., Ezejiofor, R. A., & Nwibo, S. U. (2019).
1.3 Objectives of the Study
The main objective of the study is to examine the impact of cooperatives on economic growth and development in Nigeria. Specific objectives of the study are:
- 1. To assess the contribution of cooperatives to increased income and poverty reduction in rural and urban areas of Nigeria.
- 2. To evaluate the impact of cooperatives on access to resources and market opportunities for small and medium-sized enterprises (SMEs) in Nigeria.
- To analyze the role of cooperatives in fostering social capital and community development in Nigeria.
1.4 Research Questions
To guide the study and achieve the objectives of the study, the following research questions were formulated:
- To what extent do cooperatives contribute to higher incomes and reduced poverty levels among members, particularly in rural communities?
- How do cooperatives facilitate access to credit, inputs, and markets for SMEs, and how does this contribute to economic growth?
- In what ways do cooperatives promote social cohesion, trust, and participation in community development initiatives?
1.5 Research Hypothesis
The following research hypothesis was developed and tested for the study:
Ho: There is no statistical significant relationship between cooperatives and economic growth and development in Nigeria.
1.6 Significance of the Study
The study is important for many reasons. The following are the major stakeholders this paper through its practical and theoretical implications and findings will be of great significance:
Firstly, the paper will benefit major stakeholders and policy makers in the Cooperative Economics sector. The various analysis, findings and discussions outlined in this paper will serve as a guide in enabling major positive changes in the industry and sub-sectors.
Secondly, the paper is also beneficial to the organizations used for the research. Since first hand data was gotten and analysed from the organization, they stand a chance to benefit directly from the findings of the study in respect to their various organizations. These findings will fast track growth and enable productivity in the organisations used as a case study.
Finally, the paper will serve as a guide to other researchers willing to research further into the subject matter. Through the conclusions, limitations and gaps identified in the subject matter, other student and independent researchers can have a well laid foundation to conduct further studies.
1.7 Scope of the Study
The study is delimited to AVACUM Calabar. Findings and recommendations from the study reflects the views and opinions of respondents sampled in the area. It may not reflect the entire picture in the population.
1.8 Limitations of the Study
The major limitations of the research study are time, financial constraints and delays from respondents. The researcher had difficulties combining lectures with field work. Financial constraints in form of getting adequate funds and sponsors to print questionnaires, hold Focus group discussions and logistics was recorded. Finally, respondents were a bit reluctant in filling questionnaires and submitting them on time. This delayed the project work a bit.
1.9 Organization of the Study
The study is made up of five (5) Chapters. Chapter one of the study gives a general introduction to the subject matter, background to the problem as well as a detailed problem statement of the research. This chapter also sets the objectives of the paper in motion detailing out the significance and scope of the paper.
Chapter Two of the paper entails the review of related literature with regards to corporate governance and integrated reporting. This chapter outlines the conceptual reviews, theoretical reviews and empirical reviews of the study.
Chapter Three centers on the methodologies applied in the study. A more detailed explanation of the research design, population of the study, sample size and technique, data collection method and analysis is discussed in this chapter.
Chapter Four highlights data analysis and interpretation giving the readers a thorough room for the discussion of the practical and theoretical implications of data analyzed in the study.
Chapter Five outlines the findings, conclusions and recommendations of the study. Based on objectives set out, the researcher concludes the paper by answering all research questions set out in the study.
