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International Journal of Innovation and Applied Studies
ISSN: 2028-9324     CODEN: IJIABO     OCLC Number: 828807274     ZDB-ID: 2703985-7
 
 
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Co-operative Society: A Potential Source of Unemployment Reduction in Delta State, Nigeria


Volume 10, Issue 4, March 2015, Pages 1046–1051

 Co-operative Society: A Potential Source of Unemployment Reduction in Delta State, Nigeria

K. N. Tibi1 and C. N. Atoma2

1 Department of Agricultural Extension and Management Delta State Polytechnic Ozoro Delta State, Nigeria
2 Department of Agricultural Extension and Management Delta State Polytechnic Ozoro Delta State, Nigeria

Original language: English

Received 17 December 2014

Copyright © 2015 ISSR Journals. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Abstract


The study was conducted to assess the impact of cooperative society in reducing unemployment in Delta State, Nigeria. The list of all registered Cooperative Societies was obtained from the Ministry of Commerce and Industry. Twenty eight 28 cooperatives societies were randomly selected. The next stage was the random selection of ten respondents from each of the 28 cooperative societies comprising of 280 respondents. Both secondary and primary sources of data collection were used for the study. The primary data involved the use of structured questionnaire. Secondary data include journals, magazines and textbooks. Data was analyzed with Chi-Square. The result showed that males constitute 56 percent of the population, while the remaining 44 percent were females. On age of the respondents majority (77%) belong to the age bracket of 25-50 years. The rest were either above 50 years (19%) or below 25 years (4%). The marital status of the respondents showed that about 68 percent of them were married, 14 percent of them were single and 18 percent were either divorced or widowed. The survey of the farm income revealed that about 24 percent had less than N 100,000.00 as annual farm income, 38 percent had between N 150,000.00 and N200, 000.00, 38 percent had above N200, 000.00 annual farm incomes. The study further revealed that 71 percent of the respondents had been in cooperative business for less than 11 years, 23 percent had been member of cooperative societies for the past 11 to 20 years and the remaining 6 percent had cooperative experience of above 20 years. The average years of cooperative experience for the area was 9 year. The findings also showed that cooperative society was formed in the state with the objective of solving problems in order to meet the needs and aspiration of members through capital formation and mobilization. The result further revealed that a total of N 43,343,920.00 was generated by all the members of the 28 agricultural cooperative societies involved in the study, that is about 88 percent of the fund came from sixteen cooperative societies that make up farmers multipurpose and thrift and credit societies. The remaining 12 percent of the fund were contributed by the other twelve societies. A critical analysis of the result showed that average capital per member involve in the study was estimated to be N 61,047.77. The chi-square analysis on the impact of cooperative societies on employment generation showed that there is a significant impact (chi-square value = 51.8). Therefore, the young and agile graduates in Delta state can take advantage and reap of the substantial benefits of cooperative society in job creation especially as the unemployment situation in Delta State and Nigeria is worsening.

Author Keywords: Cooperative, Societies, Capital, Mobilization, Unemployment.


How to Cite this Article


K. N. Tibi and C. N. Atoma, “Co-operative Society: A Potential Source of Unemployment Reduction in Delta State, Nigeria,” International Journal of Innovation and Applied Studies, vol. 10, no. 4, pp. 1046–1051, March 2015.