1.0 INTRODUCTION
Generally, cooperative data traced back to
nineteenth century has spread to the whole world including Nigeria. The main
objective of the movement is to improve or meet the common need by mutual
assistance and improving both the social and economic of the masses of the
countries of the nation through increased production and mutual understanding.
1.1 BACKGROUND OF THE STUDY
In all the countries of the world toady both
developed and developing countries the efforts of the government is geared
towards the socio- economic development of the masses. The common task which
the government and the citizens is on how the communities development is to be
achieved.
In pursuing this goal, one of the tools used is
the formation of the co-operative societies. The cooperative societies can be
seen from perspective be seen from many directions. But in words of Beko
(1989:5) defined cooperative as an association of persons, with variable
membership and variable capital who have pooled themselves and their resources
together on mutual or self help basks to form a business enterprises which
seeks to solve the socio- economic problems of there members by directly
providing goods and services to them in their capacity as either owner/
customer or owner/ employee of the cooperative. We will observe certain
important points. One is that membership of the society is voluntary and the
perspective members must be free unlike the factory system which is known as
the capitalist system brought along with it many evils both from green land
vans on the factory workers and the society as a whole. The working class
suffered many hardship both from green land various factors owners and from
traders and also the middlemen.
The hardship suffered by the factory worker
industry were very low wages long hours work, industry living and working
conditions high price of goods, adulteration of goods and short weight and
measures. As a result of all the problems directed on the working class the
only option left for them was to form an association that would cater for their
common problems. This resulted in formation of cooperative societies.
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