ROLE OF COOPERATIVE SOCIETIES ON THE WELLBEING OF STAFF OF PUBLIC POLYTECHNICS IN ANAMBRA STATE, NIGERIA

Abstract

This study examined the role of cooperative societies on the well-being of staff of public Polytechnics in Anambra State, Nigeria. The specific objectives were to investigate the effects of educational loans on the well-being of the staff and to determine the effect of commodity purchase (household Asset) on the well-being of staff of public polytechnics in Anambra State, Nigeria. The total population of this study was three thousand four hundred and fifty eight (3,458) comprising the entire cooperators in the two public polytechnics in Anambra State, namely Federal Polytechnic, Oko and Anambra state Polytechnic, Mgbakwu.  The solvent method was use to collect a sample size of 355 respondents which were further divided among cooperators in the two polytechnics using the stratified sampling techniques. Data gathered were analyzed using frequency tables and simple regression analysis to achieve the objectives of the study. The results showed that cooperative societies significantly affected the well-being of staff of public polytechnics in Anambra State, Nigeria. Specifically, the sub-variables of the cooperative societies were considered significant in the order of educational loan (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 of public polytechnics in Anambra State. The study concluded that access to educational loans and commodity purchases (household assets) have a significant positive relationship on the well-being of staff of public polytechnics in Anambra State, Nigeria at a 5% level of significance.