THE ACTIVITIES OF I.M.T MULITI-PURPOSE CO-OPREATIVE SOCIETY LTD ENUG (FROM 1995 - 2004) A CASE STUDY OF I.M.T ENUGU MULTI- PURPOSE CO-OPERATIVE SOCIETY LIMITED I.M.T ENUGU

(Cooperative Economic)

THE ACTIVITIES OF I.M.T MULITI-PURPOSE CO-OPREATIVE SOCIETY LTD ENUGU

(FROM 1995 – 2004)A CASE STUDY OF I.M.T ENUGU

MULTI- PURPOSE CO—OPERATIVE  SOCIETY LIMITED I.M.T ENUGU

ABSTRACT

To achieve this the researcher under took the project work by making  a case study of IMT multi-purpose co-operative society and individuals with sound knowledge of co-operative for the purpose of getting relevant primary and secondary data tat will be helpful in the research analysis.

            The  primary data are in the from of face to face interview with some students of IMT Enugu especially students of co-operative Economics and management and  individual making up the suppressed of  the study.

            Review of conceptual and actual research was done on past works of many author published reports, news papers and Journals. The data collected were analyses by writing a general background of multi-purpose co-operative society and their  performance.

            In view of the finding it was recommended amo0ng other thing that the achievements could be divided into past and present which include  achievements created  by the head of  department co-operative , Economics and  management department in general.

            Co-operation is an interesting area of study . it teaches how the  common people  (consumers Employers, farmers, tenants, students  and Artisans) can go into business successfully not for profit, but for service to themselves and by so doing  eliminate for their live the daily exploitation which they suffer at the hands of profiteering middle men.

            Anything  done outside without co-operation breeds corruption exploitation of man by man bad business practice using stiff  completion and ruthless pursuit for the markets and the likes.

TABLE OF CONTENTS

CHAPTER ONE

1.0              INTRODUCTION

1.1       BACHGRUND OF THE STUDY

1.2              OBTECTIVE OF THE STUDY

1.3              SIGNIFICANCE

1.4              SCOPE AND LIMITATION OF THE STUDY

1.5              DEFINITION OF TERMS

CHAPTER TWO

2.0              REVIEW OF RELATED LITERATURE

2.1       HISTORICAL BACKGROUND OF I.M.T ENUGU MULTI-PURPOSE CO-OPERATIVE SOCIETY

2.2       ORGANISATION  OF I.M.T 9ENUGU) MULTI PURPOSE CO-OPERATIVE SOCIETY LIMITED

CHAPTER THREE

3.0              RESEARCH DESIGN AND METHODOLOGY

3.1       POPULATION

3.2              METHOD OF INVESTIGATION

3.3              MEMBERSHIP OF THE SOCIETY

3.4              OBJECTIVES OF THE SOCIETY

3.5              ECONOMIC ACTIVITIES UNDERTAKEN BY THE SOCIETY

3.6              ACTITTIES OF I.M.T ENUGU MULTI-PURPOSE CO-OPERATIVE SOCIETY LIMITED.

CHAPTER FOUR

4.0              PRESENTATION ANALYSIS AND INTERPRETATION OF DATA

4.1       PRESENTATION OF DATA

4.2              ANALYSIS OF DATA

4.3              INTERPRETATION OF DATA

CHAPTER FIVE

5.0              SUMMARY OF FINDING RECOMMENDATION AND CONCLUSIONS

5.1       SUMMARY OF FINDINGS

5.2              RECOMMENDATIONS

5.3              CONCLUSION

BIBLIOGRAPHY

APPENDIX

CHAPTER ONE

1.0              INTRODUCATION

A co-operative society is a voluntary association of people formed to improve their  economic status. In a co-operative society membership is not obligatory people join at their own will they are free and  independent.  A co-operative society can them be defined as  an association of persons who off their own free will join together to  solve their common and collective economic  needs through mutual help enterprise.

            There  are other definitions of the international labour organization defines it as an association of person who have voluntarily joined together to achieve a common goal through the  formation of a democratically controlled  organization making equitable contributions  to the capital required and accepting  a  fair  share of the risks and actively participate.  It  must  be emphasized that a co-operative society is a business organization and is recognized as  such  in the  world over.  In Economics and  commerce the co-operative society is a business forms of business organization.

            The above definition shows that for a co-operative to exist:-

1.                  There must be groups of persons with a common need and with variable membership.

2.                  The objective of the group must be to promote  the economic interests of its members.

3.                  Return to capital must be limited

1.1       BACKGROUND OF THE STUDY

            The saying “necessity is the mother of invention.

This is very true in the sense that the co-operative was an invention of necessity.

The co-operative can be traced back to the stone age where people co-operated with one another in order to achieve easier objective but academically the modern day co-operation could be regarded as an advent of necessity originated in create Britain in the early 19th  century  as a result of the evil deeds of the  industrial revolution which entire England people in that nation were in  bad economic fortune which needed urgent solution.  The capitalists were exploiting the working class  who were below subsistence level the workers sanitary condition was pitiable.

            Some  critics began to criticize the evils of  capitalism and to the  government to do something  to  better the living conditions of the working class.

The  most vocal of these critics was Mr. Robert Owen, who  himself  was a factory owner.  It was Mr Robert Owen who suggested the formation of co-operatives as a check to capitalism  and its attendant vices.  He formed co-operative  committees or villages of co-operatives between 1825 and 1827,  four of such co-operatives

Were formed by Robert Owen but unfortunately they were not successful stories.

            Neither less their impact was felt and they arouse into the interest in people to from co-operatives in  the  future which eventually met with success.

This is the reason why  Robert Owen is known  all  over the world as the  father of co-operative. The  year 1844 is a very  important one in the  co-operative  history. In August  of that  same  year a small village of Rochdale , the first successful co-operative society  that was launched  was owned by 28 weavers.  These 28 weavers are know in co-operative society history as the Rochdale Equitable pioneers  because  their successful co-operative  society was launched in the village of Rochdale, England.

            The above description is a brief study of the  origin of co-operative in the world over.  Now let us see briefly how co-operative society originated in Nigeria co-operative.  Nigeria is above five  decade old.  The British co-operation having   introduced co-operation wanted to do the  same  in Nigeria.  The  Nigeria  government in 1933 appointed  Mr. F.C strickland  to  make the feasibility study of the  adaptability of co-operation in  Nigeria.  His report was accepted by the government and  in 1935, the Nigeria co-operative society ordinance was enacted and in the following year 1936 regulation were drawn up to guide the  running of co-operative society. In the same year cocoa co-operative society started and by 1944,there were a hundred and eight-one (181) co-operative societies in Nigeria which were gotten form the one ministry of works, commerce and  industry.

1.2       OBJECTIVE OF THE STUDY

            The reason for undertaking this case study cannot be overemphasized.  I stand to gain a  let form this study so are the  numerous student of co-operative Economic and management.

            However the greater   benefactors  will be the  members of the IMT  multi-purpose co-operative  society limited which will find this case study as  a valuable candid study that will expose their society.

            This case study will expose me to the practical aspect of writing and making a case study of a gives subject.

            The most important reason for undertaking  this case study is to bring the IMT multi-purpose co-operative society limited under study. Their  operational strength will be studied  their weakness be looked into and  how to correct them recommended.  This study aims at x –raying their operational  efficiency and their usefulness and impact in the society in general will also be checked to see if the objects  usefulness  economic reliability shortcomings  and relevance in this modern time.

            No person can doubt the usefulness of   forming co-operatives to achieve a particular and specified goal but mistakably a lot of co-operatives  were declared  insolvent . this is not because they are not a reliable ventures for this time. It  is because of bad management and this is why this case study of IMT multi-purpose co-operative society limited is of great importance as to look into the  management  of this co-operative.

1.3       SIGNIFICANCE OF THE STUDY

            This  study aims to x-ray the importance  of  co-operatives in this modern society  whenever   there  is a co-operative society their social and  economic importance  are felt by the community.

            As the co-operative are the association of people with common interest it is believe that the IMT Enugu  multi-purpose co-operative  society limited as the secretary  of the society Mr.C. Nkeanyadi have  lamented that  it is helpful to the members to get their goods and services from the other areas at a minimum cost the performances of IMT Enugu multi-purpose co-operative society limited have been the topic of most discussion seminars symposia and conferences in recent past.

            I hope to contribute my I deals through this study and also help enlighten co-operators and  he public on the performance  of  the multi-purpose co-operative society limited in IMT.

1.5       DEFINITION OF TERMS

            BULK PURCHASE:

This involves  buying things in large quantities co-operators;

These are member of  co-operatives

Co-operative inspectors:

These are audit co-operative societies both at primary and secondary levels.

Consumer co-operative society:

This is a business organization of consumers who pool their resources together to purchase  consumer goods on wholesale basis store and result them to their members non-members at the prevailing  market prices

Multi – purpose co-operative:

These are the co-operative that deals in more than one particular activity

Orientation:

This determines how one stands in relation to ones surrounding

Patronage rebate:

This is a refund made to co-operative members as regards the purchases they made

Surplus:

Amount of money gained in the co-operative society by their members.

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