Indigenous Cooperative in Nigeria.

Cooperative is an organization or society of people with common interests as the name implies.

Cooperative means to cooperate with people with common or the same mindset cooperative society can also be their establishments have a profit motive.

However, the important thing to note here is that a cooperative society is established for the interest of its member.

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This means that families, brothers, sisters, communities were ready to assist each other and people with problems were comforted and solutions were provided.

Over time, the issuing procurement of loan either for business setup or of other financial purpose continues to advances in a rate that is unimaginable, where loan and cooperative society starts as a household idea, which later expanded even to a cooperative society that is generally recognized and sometimes financed by the government.

A cooperative is an autonomous and voluntary association of people that come together to pool their resources together for businesses, economic, social and cultural welfare improvement.

Type of Indigenous Cooperative

There Are Different Types Of Indigenous Cooperative:

1. Consumer Cooperative: Its role is to provide the affordable price of goods and service which are essential for the overwhelming majority of people.
2. Credit Cooperative Are types of cooperative exist for providing savings and loan services to its members.
3. Housing Cooperative: It is a cooperative where every member can buy a piece of land, take part in building houses, and make an investment on a profitable basis in a real estate business, etc. 

Saving Contribution Cooperative

A savings and credit cooperative financial organization owned and operated and for its members according to democratic principles, purposes of encouraging savings using pooled and to extend loans to the member at a reasonable rate of interests and providing retailed financial service to enable member their economic and social well-being.

Saving and credit cooperative can operate various types of funds and accounts accounting to the need of the member.

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However, the following are the main funds, which form the core of the saving and credit cooperative shares.

Indigenous Labour Cooperation

This type of association practice in the rural area, the government implemented discriminatory farming policies for indigenous communities for two purposes.

The purpose was to restrict the use of land by indigenous communities to a small area in order to open up to land for the setter.

Cooperatives and Its Classification

A cooperative society is a group of individuals who have specific common needs, it is an economic enterprise, the purposes of which is to improve the economic status of owners or members. 

The most cooperative society offers their products to their members and others do not serve non-member.

Consumer Cooperative

These are enterprise owned by consumers and managed democratically which aim at fulfilling the needs and aspirations of their members they operate within the market system independently of the state, as a form of mutual aid, oriented toward service rather, than pecuniary profit.

The consumer often takes the form of retail outlets owned and operated by their consumers, such as food.

However, there are many types of consumer's operating in the area such as healthcare, insurance, housing, utilities and personal finance (including credit unions) cooperative retail societies though they should not be confused with retailers cooperative, whose members are retailers rather than consumers.

Consumers cooperative may be turned form cooperative federations these may come in the form of cooperative wholesale societies, through which consumers cooperative collectively purchase goods at wholesale prices and, in some cases, own factories.

Alternatively, they may be a member of cooperative unions. Consumers cooperation has been a focus of study in the field of cooperative economics.

Producer cooperatives are created by producers and owned & operated by producers.

Producers can decide to work together or as separate entities to help increase marketing possibilities and production efficiency.

They are organized to process, market, and distribute their own products. This helps lessen costs and strains in each area with a mutual benefit to each producer. Examples: agricultural products, lumber, carpentry, and crafts.

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Comprehensive Classifications

This consists of five segments and segment one consist of marketing cooperative, supply and consumer cooperative, butchery mill, manufacturer craft, farming, livestock, fishing.

Auxiliary Cooperative 

The auxiliary cooperative help their members to solve their problems, in an auxiliary cooperative, the cooperative also select the issue that they will solve for members,  From the one that member brought.

Production Cooperative

These can also be known as an agricultural cooperative where farmers pool their resources in certain areas of activity. 

A broad typology of agricultural cooperative disguised between agricultural services to their individual farming members, and agricultural production cooperative, where production resource and land machinery are pooled and members farm jointly.

A cooperative society is a dynamic and viable business setup, it has unique ideologies that under bind the movement and distinguishes them from other of business.

It also means that is not rich people alone, poor, and the average human being can also deal with a step to organized a successful cooperative society.

Step Involved In Forming A Cooperative

This step consists of different forms, which are

Finding and organizing, Identifying a commonly felt need, creating public awareness, preliminary meetings and per- member education, Drawing up the bye-laws, conducting feasibility study commencement of business, the commencement of business, Application for registration and, The inaugural meeting and launching.

The Principles of Cooperative

The principles are based on rules or laws determine the existence and quailing conduct of an organization, which make it different from another system.

It also is invariable and variables principles. It adapts itself to changing the environment.

Different Categories of Principles

These are the notion of self-help, Personal cooperation, Equality of Members, Free association of membership, Promotion of members, Democratic in nature.