ASSESSMENT OF THE ROLES OF CO-OPERATIVE SOCIETIES IN POVERTY REDUCTION IN OGUN STATE, NIGERIA

Abstract

This study examined the role of cooperative societies in addressing the needs of members and their contribution towards personal development and poverty reduction in Ogun State. The main objectives of this study is to assess the roles of cooperative society in poverty reduction and sustainability of cooperative societies in achieving the goals. The population of this study comprised 1,455 members from twenty (20) registered cooperative societies whose activities cover thrift, loan, and credit facilities. Stratified random sampling technique was used to sample 437 respondents representing 30% of the members of the twenty (20) thrift loan and credit co- operative societies which were used for the study in Ogun East Senatorial district. Findings from this study revealed that cooperative societies in the area of study have been empowering their members through their poverty reduction activities by given financial support to members, to established SME, vocational skills training and educational empowerment. It is recommended that in order to sustain the cooperative societies’ in poverty reduction activities, cooperators needs more enlightens and orientation, develop strategies in capital formation and active involvement in the operations and running of cooperative societies in various communities.