Principles and objectives of Co-operative Development;

 a. Co-operative Society is unique organizations (associations) with both social and economic objectives. As a social unit, the co-operative is made up of a group of persons who voluntarily agree to come together and utilize their resources for the attainment of common objectives and fulfillment of common felt needs.
As an economic unit, a co-operative aims at promoting and protecting the economic interest of its members. As a socio-economic organization, co-operatives are different from other Non-Governmental Organization (NGOs) and Community Base Organization (CBOs) which often have purely socio-cultural goals

b. Co-operatives are regarded as one of the most important means of attaining economic and social development in developing countries, which Nigeria is one. For this reason, the movement is regarded by international organization, especially the UNDP and ILO as the most important institution for job creation and poverty reduction in the continent of Africa.

c. The basic principles and sacred value system which characterize the co-operative movement focus on self help, democracy, equality, equity, solidarity, honesty, openness, social responsibility and empathy.