Co-Operative Societies as Drivers of Business Performance in Nigeria: A Conceptual Perspective

Abstract

Co-operative societies played a significant role in socio-economic development across emerging economies, particularly in Nigeria, where they provide financial and non-financial services to businesses. This paper presents a conceptual perspective of the impact of co-operative societies on business performance, drawing on 2024–2025 studies. Anchored in Social Capital Theory, the ResourceBased View and Collective Action Theory. Evidence suggests that co-operatives societies enhance access to finance, build dynamic capabilities and strengthen trust, thereby improving profitability, growth, innovation, and sustainability. The study integrates recent Nigerian and global studies to motivate a testable conceptual model. The paper utilized a qualitative/secondary-data conceptual study and practice implications for Nigeria. Recent empirical findings from Ekiti, Anambra, Lagos and Oyo provide up-to-date grounding. This study contributes theoretically by extending RBV, SCT and CAT to collective resource endowments, practically by providing strategies for business owners and policy makers. The study revealed that access to financial services and capacity building positively affect business performance in Nigeria. Based on this, it was concluded that cooperative societies have positive significant effect on business performance and recommended that co-operative societies should prioritize access to credit facilities for members and introducing innovative strategies for economic participation, and poverty alleviation for sustainable development goals.