Influence of Cooperative Societies on the Wellbeing of Staff Among Universities in Ekiti State, Nigeria

Abstract

The study examined the effect of cooperative societies on the well-being of staff among Universities in Ekiti State, Nigeria. The specific objectives are to access the effects of educational loans on the well-being of the staff, investigate the effect of land acquisition on the well-being of the staff and determine the effect of commodity purchase (household Asset) on the well-being of staff among Universities in Ekiti State, Nigeria. The total population of this study is three thousand two hundred and five (3,205) comprising the entire cooperators in the three Universities in Ekiti State, namely Federal University, Oye Ekiti, Ekiti State University, Ado Ekiti and Afe Babalola University, Ado Ekiti. The study employed a stratified random sampling technique for selecting a sample size of 355 respondents which are further divided among cooperators in the three Universities in Ekiti State. Data gathered were analysed using frequency tables and multiple regression analysis to achieve the objectives of the study. The results showed that cooperative societies significantly affect the well-being of staff among Universities in Ekiti State, Nigeria. Specifically, the sub-variables of the cooperative societies were considered significant in the order of educational loan (p= 0.000), land acquisition (p= 0.000) and commodity purchase (household asset) (p= 0.000). This implies that cooperative societies have an effect on the well-being of staff among Universities in Ekiti State. The study concluded that access to educational loans, land acquisition and commodity purchases (household assets) have a significant positive relationship with the well-being of staff among Universities in Ekiti State, Nigeria at a 5% level of significance.