IMPACTS OF COOPERATIVE SOCIETIES AS A STRATEGY FOR SUSTAINABLE COMMUNITY DEVELOPMENT IN NIGERIA

Abstract

The paper explores the Impacts of Cooperative Societies as a Strategy for Sustainable Community Development in Nigeria. Concepts of community development, elements that make up the local communities were analyzed. The impacts of cooperatives societies in sustainable community development, such as economic empowerment of members, social cohesion and inclusion, capacity building and skills development, access to essential services, environmental sustainability among others were outlined and elaborated. The paper also identified and explained the challenges of cooperatives societies which include among others as financial, structural, regulation and governance/capacity problems, while the way forward to these challenges were analyzed. The paper concluded that cooperative societies play significant roles in sustainable community development which includes among others; contribute to poverty alleviation, support local entrepreneur, promote agriculture development and essential financial services. The paper recommended that Government and financial institutions should provide adequate funding and support to cooperative societies to enable them to fulfill their roles effectively, Training programs should be organized for members and leaders of cooperative societies to improve their management skills and operational efficiency and Cooperative societies should be encouraged to participate in healthcare initiatives to improve community well-being among others.