Co-operative Development Policy
Principles and objectives of Co-operative Development;
a. Co-operative Society is unique organizations (associations) with both social and economic objectives. As a social unit, the co-operative is made up of a group of persons who voluntarily agree to come together and utilize their resources for the attainment of common objectives and fulfillment of common felt needs.
As an economic unit, a co-operative aims at promoting and protecting the economic interest of its members. As a socio-economic organization, co-operatives are different from other Non-Governmental Organization (NGOs) and Community Base Organization (CBOs) which often have purely socio-cultural goals
b. Co-operatives are regarded as one of the most important means of attaining economic and social development in developing countries, which Nigeria is one. For this reason, the movement is regarded by international organization, especially the UNDP and ILO as the most important institution for job creation and poverty reduction in the continent of Africa.
c. The basic principles and sacred value system which characterize the co-operative movement focus on self help, democracy, equality, equity, solidarity, honesty, openness, social responsibility and empathy.
The seven universal principles that guild co-operative operation as provided by the International Co-operative Alliance (ICA) are;
I). Voluntary and open membership
ii). Democratic member control
iii). Members economic participation
iv). Autonomy and independence
v). Education, Training and Information
vi). Cooperation among Co-operatives
vii). Concern for the community
Co-operatives are private member-oriented enterprises that operate on the principles of democracy and market economy. They are established as voluntary organizations of like-minded people to;
1. Pursue mutually beneficial, social and economic interests.
2. Provide goods and services to each other and the general public in the most effective way.
3. Prevent exploitation of the weaker members of the Society, by bringing them together to help themselves.
4. Protect the rights of the people as producers and consumers of goods and services.
5. Promote mutual understanding and peaceful co-existence among the people of Nigeria and all our members abroad.
