Monday, July 10, 2017

Why You Should Form Cooperative At Your PPA As N-Power Volunteers

Why You Should Form Cooperative At Your PPA As N-Power Volunteers

A Cooperative can be voluntary association of low income earners, where every one can join and leave it at any time giving the due notice to members. These type of cooperation is the association of people who wants to improve their economic statues through joint effort.

There are different type of cooperative organization but we will discuss two that can be beneficial to N-Power beneficiaries.

1. Cooperative farmer society:
N-power Agro fall under this type of cooperative. It is a Voluntary association of small farmers. The aim of such cooperative is to enable farmers to get the benefit of large scale farming interms of improved seeds, modern technics of farming and fertilizers through these cooperative.

Some N-Agro Volunteers in Kaduna South LGA recently form a cooperative not only aiming on contribution of money and sharing it at the end of the month or year but looking beyond to Register the cooperative with the Ministry of Agric and CAC and then they will be legible to access funds from FG through Government bank such as CBN, BOI and BOA etc.

2. Simple purpose cooperative society:
This type of cooperative is established to conduct the single function they are established for, keeping the single cooperative objective in mind for example, let say for NTax cooperative, NTeach cooperative, Nhealth cooperative. They can form a cooperative of 5 to 10 members in their primary place of assignment where they will agree to contribute certain amouth of money let say #10,000 for 5 member cooperative that will amouth to 50k per month which will be giving to one member of the cooperated and repeated the next month until every member of group gets his/her contribution.

Such cooperative are formed among trusted friends, co-workers or family members.

N-Power Beneficiaries can established such cooperative with a view to improving their economic condition there by putting their 30k stipends which is not enough for other personal fulfilment into use. This will develop the habit of saving among N-Power Beneficiaries and also provide credit to conduct various productive activities

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