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Potentials For The Development Of Co-Operatives In The Nigerian Oil Palm Industry
Co-operatives are important in the socio-economic development of nations. Basically, they strive to achieve individual and collective self – reliance, activation of indigenous human and material resources, equal opportunities, democracy, solidarity, improved standard of living for members, access to capital, increased income and other desired cooperative effects. In the Oil Palm industry, there is increasing concern that the fruits of economic progress are not reaching all sections of the society, particularly the Oil Palm farmers. The paper discusses players in the industry and examines cooperative concepts such as social, sociopolitical, legalistic and the economic; with a view to determining how best to induce cooperative progress in the Oil Palm industry. The paper posits that the economic concept provides a more useful framework for the development of Oil Palm cooperative societies while the introduction and use of agricultural production cooperatives among farmers appears to be the most viable option for engendering cooperative progress in the Oil Palm industry.