COOPERATIVE SOCIETIES AND SUSTAINABLE DEVELOPMENT IN NIGERIA

Abstract

Cooperative societies are associations or organizations formed in order to promote the economic interest of all their members. The main aim is to achieve what they as individuals cannot achieve if left alone. The features of cooperatives are; democratic member control, separate legal entity, limited liability, etc. the types of cooperative societies in Nigeria includes but are not limited to thrift and credit societies, producers cooperatives, consumers cooperative, housing societies and agricultural societies. According to the UNDP, development is nothing other than the process of improving the quality of life of people. Quality of life for them would be improved by expanding their choices. The choices are the essential qualities that people need to have a better life. it outlined the three most important choices which are, a) to lead a long and healthy life, b) to acquire knowledge and c) to have access to resources needed for a decent standard of living. In addition to these choices, a range of other choices have also been mentioned. Those included are broader parameters such as political freedom, guaranteed human rights and self-respect. While, sustainable development has to do with a development that does not only take care of the present generation but ensures that the future generations are not left out of its gains. The roles of cooperative societies to sustainable development includes reducing inequalities through its principle of equality, contributing to the gross domestic product output of the country through increase in the production of goods and services, etc.