Effect of Agricultural Cooperative Businesses on the Wellbeing of Members in Ogun State, Nigeria

Abstract

Agricultural Cooperatives have a vital role in improving the wellbeing of their members. This study intends to assess the extent of agricultural cooperative businesses on the wellbeing of members in Ogun State, Nigeria. The specific objectives were to describe the socio-economic characteristics of agricultural cooperative members, identify the types of businesses operated by agricultural cooperative societies, identify the benefits that cooperative members derived from agricultural cooperative societies and businesses, and examine the effects of agricultural cooperative businesses on the wellbeing of cooperative members. The data for the study were gathered through structured questionnaires distributed to 312 active and registered members of the selected agricultural cooperatives. The sample was chosen through a multi-stage approach that included purposive and random sampling techniques, and the data were analysed using mean before and after ratings, simple percentages, standard deviation, and the t-test. According to the findings, the majority of respondents were able to purchase assets such as farms, buildings, motorbikes, bicycles, telephones, radios, and televisions as a result of agricultural cooperative societies engaged in profitable industries. Furthermore, members had increased access to healthcare and food. Furthermore, the effects of agricultural cooperative firms were visible in the increased income claimed by respondents following the founding of these businesses, as confirmed by a significant t-value of 5%. This implies that there was a considerable difference in members' subjective wellbeing in the establishment of agricultural cooperative businesses. Finally, this study provides persuasive evidence that agricultural cooperative businesses (economic activities) significantly improve the subjective wellbeing of members in the studied area. It is advised that agricultural cooperatives diversify their investments to increase their viability, improving the wellbeing of their members and host communities. This strategy will also inspire members to actively participate and support the acquisition of powerful abilities, ultimately leading to the attainment of sustainable development goals.