Cooperative A Positive Growth Driver in a Pandemic Economy

International Journal of Trend in Scientific Research and Development (IJTSRD)
Volume 6 Issue 4, May-June 2022 Available Online: www.ijtsrd.com e-ISSN: 2456 – 6470
@ IJTSRD | Unique Paper ID – IJTSRD50361 | Volume – 6 | Issue – 4 | May-June 2022 Page 1669
Cooperative: A Positive Growth Driver in a Pandemic Economy
Anigbogu, Theresa Ukamaka1
, Ph.D; Uzochukwu, Lebechukwu David2
, Ph.D;
Akwaekwe, Christian Ikechukwu1
1
Department of Cooperative Economics and Management, Nnamdi Azikiwe University (NAU), Awka, Nigeria
2
Department of Cooperative Economics and Management, Federal Cooperative College, Enugu State, Nigeria
ABSTRACT
The pandemic economy is an economy inflicted with deadly disease
or plague such as the corona virus disease 2019 (COVID-19). The
economy is characterized with setbacks in social and economic
activities including deaths as a result of the deadly disease. This
study therefore examined the COVID-19 Pandemic: its meaning,
origin and the need to overcome the pandemic. The paper described
how global, regional and national cooperation can help overcome the
pandemic using cooperative as a platform. However, considering the
economic, social and environmental challenges of the pandemic, this
paper contends that the cooperative model of enterprise has in recent
time proven to be more sustainable and reliable platform for social
and economic transformation in the Nigerian economy in the
pandemic era for some obvious reasons: The paper posited that the
government and donor agencies have relied on cooperative in
fighting hunger and poverty. The cooperative has also been relied
upon for achieving national food security programme. Institutions
both educational and other agencies are setting up one form of
cooperative organization or the other for solving their social and
economic needs. Research has also shown that many micro business
owners rely on cooperative group membership for their business
growth. Today, the cooperative ideals are spread across all sectors of
the economy even without much publicity. Most importantly the
pandemic made thousands if not millions of people informal
members of cooperative organization in an effort to survive the
vicious attack of the pandemic. The paper concludes that it is
imperative that a clear-cut cooperative sector that will serve as a
professional and institutional base for cooperative growth and
development in Nigeria be established.
KEYWORDS: Cooperative, Growth Driver, COVID-19, Pandemic
Economy
How to cite this paper: Anigbogu,
Theresa Ukamaka | Uzochukwu,
Lebechukwu David | Akwaekwe,
Christian Ikechukwu "Cooperative: A
Positive Growth Driver in a Pandemic
Economy"
Published in
International Journal
of Trend in
Scientific Research
and Development
(ijtsrd), ISSN: 2456-
6470, Volume-6 |
Issue-4, June 2022, pp.1669-1673, URL:
www.ijtsrd.com/papers/ijtsrd50361.pdf
Copyright © 2022 by author(s) and
International Journal of Trend in
Scientific Research and Development
Journal. This is an
Open Access article
distributed under the
terms of the Creative Commons
Attribution License (CC BY 4.0)
(http://creativecommons.org/licenses/by/4.0)
1. INTRODUCTION
A. The COVID-19 Pandemic: Meaning and
Origin
The COVID-19 Pandemic is a recent and topical
global malady that affected all sphere of human life
including the ecosystem. The intent of this paper is
not to give the scientific origin of the COVIV-19.
That aspect will be left for the natural and medical
scientists who are already in a heated argument on
whether the virus is a product of nature or a product
of human genetic engineering (Law, 2020). This
paper will rather present us with where the cases were
first recorded and what the acronym COVID-19
represents. COVID-19 emerged as an infectious
disease called corona virus disease 2019 (COVID-
19). It was described as a novel severe acute
respiratory syndrome coronavirus-2 (SARS-CoV-2)
(Lone & Ahmad, 2020). The disease was first
reported by officials in Wuhan City, China, in
December 2019 following the increasing reports of
the outbreak of the disease among stall owners,
market employees and regular visitors to the
wholesale food market in Wuhan City, China(World
Health Organization, 2020).The increasing cases and
spread of the virusat record speed became so alarming
IJTSRD50361

International Journal of Trend in Scientific Research and Development @ www.ijtsrd.com eISSN: 2456-6470
that the World Health Organization declared COVID-
19 a public health emergency of international concern
on 30 January 2020and a pandemic on 11 March
2020, by this time the COVID-19pandemic has
spread to more than 114 countries (Balkhair, 2020;
Anjorin, 2020).
Africa recorded its first COVID-19 case in Egypt on
14 February 2020. Since then, 52 countries have
reported cases. Initially confined to capital cities,
cases are now reported in a significant number of
countries, and in multiple provinces and states. On
4th May 2020, the number of confirmed COVID-19
cases had risen to 44 873 and caused 1 807 deaths.
The African countries with the highest number of
infections at the early stage are South Africa, Egypt,
Morocco and Algeria. However, the full scope of the
pandemic remains uncertain, as cases are
underreported and accuracy of data collection varies
considerably. In Nigeria, from 3rd January 2020 to
8th October 2021 there have been 207,210 confirmed
cases of COVID-19 with 2,742 deaths, reported to
World Health Organization (WHO). As of 29
September 2021, a total of 6,852,590 vaccine doses
have been administered in Nigeria(OECD, 2020,
WHO, 2021).
B. Characteristics of the COVID-19 Pandemic
The most common and notable means of contacting
the COVID-19 is through the respiratory droplet
transmission. It can also be transmitted through
person-to-person contacts by asymptomatic carriers.
However, when contacted, pneumonia appears to be
the most frequent serious manifestation of infection,
characterized primarily by fever, cough, dyspnea, and
bilateral infiltrates on chest imaging (Gennaro, Pizzol,
Marotta, Antunes, Racalbuto, Veronese & Smith,
2020).Other, less common symptoms have included
headaches, sore throat, and rhinorrhea, in addition to
respiratory symptoms, gastrointestinal symptoms
(e.g., nausea and diarrhea). Hu, Guo, Zhou and Shi
(2020) posit that it appears that all ages of the
population are susceptible to SARS- CoV-2 infection,
and the median age of infection is around 50 years.
However, clinical manifestations differ with age. In
general, older men (>60 years old) with co-
morbidities are more likely to develop severe
respiratory disease that requires hospitalization. The
incubation period is ~5 days, severe disease usually
develops ~8 days after symptom onset and critical
disease anddeath occur at ~16 days.
However, to prevent contacting and spread of the
disease, a number of COVID-19 protocol compliance
measures have been put forward, which include:
1. Wear your face mask regularly
2. Avoid touching surfaces, especially in public
settings or health facilities, in case people infected
with COVID-19 have touched them
3. Clean Surfaces regularly with standard
disinfectants
4. Frequently wash your hands with soap in a
running water
5. Apply sanitizer where there is no water available
6. Greet without physical contact to ensure physical
distancing
7. Avoid very large public gatherings among others
2. GLOBAL IMPACT OF THE COVID-19
PANDEMIC
A. The Pandemic Economy
The economic and social disruption caused by the
COVID-19 pandemic globally has devastated tens of
millions of people. These millions of people are at
risk of falling into extreme poverty while the number
of undernourished people, currently estimated at
nearly 690 million and could increase by up to 132
million by the end of the year 2021 (WHO, 2020).
The pandemic has affected the economic, social and
ecosystem in diverse ways:
1. Globally, over the past 12 months, the pandemic
has harmed the poor and vulnerable the most and
it is threatening to push millions more into
poverty. This year, after decades of steady
progress in reducing the number of people living
on less than $1.90/day, COVID-19 has usher in
the first reversal in the fight against extreme
poverty in a generation. The latest analysis warns
that COVID-19 has pushed an additional 88
million people into extreme poverty this year –
and that figure is just a baseline.
2. Those restrictions – enacted to control the spread
of the virus, and thus alleviate pressure on
strained and vulnerable health systems – have had
an enormous impact on economic growth.
3. COVID-19 has triggered a global crisis like no
other – a global health crisis that, in addition to an
enormous human (death) toll, is leading to the
deepest global recession since the Second World
War.
4. This economic fallout is hampering countries’
ability to respond effectively to the pandemic’s
health and economic effects. Even before the
spread of COVID-19, almost half of all low-
income countries were already in debt distress or
at a high risk of it.
5. It has also resulted in migrants sending less
money home by way of remittances – the money
that migrants send to their home countries – are of
special concern. Over previous decades,
remittances have played an increasinglyimportant

role in alleviating poverty and sustaining growth.
Just last year, these flows were on par with
foreign direct investment and official
development assistance (government-to-
government aid). But COVID-19 has spurred a
dramatic reversal, with the latest forecasts finding
that remittances will decline 14% by the end of
2021 – a slightly improved outlook compared
with the earliest estimates during the pandemic
that should not belie the fact that these are historic
declines.
6. The pandemic slowdown has deeply impacted
businesses and jobs. Around the world,
companies – especially micro, small, and medium
enterprises (MSMEs) in the developing world –
are under intense strain, with more than half
either in arrears or likely to fall into arrears
shortly.
7. It has resulted into high cost of health care.
The pandemic has highlighted the need for
effective, accessible and affordable health care.
8. It resulted in closing classrooms. At the height
of the COVID lockdown, more than 160 countries
had mandated some form of school closures for at
least 1.5 billion children and youth.
9. COVID-19’s effects on education could be felt
for decades to come, not just causing a loss of
learning in the short term, but also diminishing
economic opportunities for this generation of
students over the long term. Due to learning
losses and increases in dropout rates, this
generation of students stand to lose an estimated
$10 trillion in earnings, or almost 10 percent of
global GDP, and countries will be driven even
further off-track to achieving their Learning
Poverty goals – potentially increasing its levels
substantially to 63 percent, equivalent to an
additional 72 million primary school aged
children (The World Bank Group, 2021).
10. National lockdowns have had an immediate
impact on the energy sector, both in terms of
consumption and production. The result has been
a slump in electricity demand unparalleled since
the Great Depression, according to the
International Energy Agency (IEA). Usage has
typically fallen by up to 20 per cent for each
month of lockdown, creating what the IEA has
described as a ‘prolonged Sunday’ of extended
low-level consumption. Although home working
has increased domestic electricity use by around
40 per cent, this has not been enough to offset the
demand lost due to the closure of offices and
factories. Overall global power use is predicted to
fall by around six per cent in 2020 compared to
the previous year (The Royal Institute of
International Affairs, 2021)
B. The need to overcome the Pandemic
The COVID-19 pandemic brought the global
economy to a halt. In fact, some economies
particularly some of the emerging economies went
into recession and some at the verge of depression.
The pandemic no doubt has created a new order and
normal in the global economy. Most of the
governments had to take the very hard decision of
locking down social and economic activities. This
singular decision affected the global economy leading
to loss of millions of jobs thus ushering most
developing countries including Nigeria back into
poverty and hunger (UNCTAD, 2020; IMF, 2020).
Therefore, it is important that effort is made to
combat the COVID-19 pandemic particularly in
Nigeria and Africa by extension, because of the
obvious social and economic losses the Nation and
region suffers as a result of the pandemic. While
developed countries are providing trillions of dollars
in relief, support and bailouts, developing countries
are more constrained on the fiscal, monetary and
external payments fronts making it difficult for many
of them to respond to the multiple shocks triggered by
the crisis (UNCTAD, 2020). Nevertheless, some
larger developing countries have provided immediate
relief through financial bailouts and income support
while Nigeria continues to borrow. Presently the debt
profile of the Nigeria is over 30 billion USD and still
counting (UNCTAD, 2020, CBN, 2021).
3. COOPERATION
A. Meaning and characteristics
Literally, cooperation describes the act of coming
together by way of taking a joint action to achieve a
mutually beneficial goal and purpose. Khamis, Kamel
and Salichs (2006) posit that cooperation
linguistically refers to the practice of people or
entities working together with commonly agreed-
upon goals and possibly methods, instead of working
separately in competition. Zagumny (2013) posits that
cooperation includes both behavioral and
instrumental components. The behavioral component
is that people are working or acting together, while
the instrumental component involves a common
purpose or benefit for those involved. Therefore,
cooperation is an occurrence involving two or more
people who share an activity for the purpose of
achieving a goal that benefits all of those involved.
Cooperation is often defined within a goal structure
that includes: 1) cooperation, in which achieving
one’s goals is dependent on other people achieving
their goals; 2) competition, which requires that to
achieve one’s goals, others must not achieve their

goals; and 3) individualism, in which attaining one’s
goals is not dependent on whether others attain their
goals. The various forms and components of
cooperation notwithstanding, the outbreak of the
COVID-19 pandemic has increased global
cooperation as people, even warring nations were
compelled by the pandemic to come together to fight
the virus.
B. Areas of Cooperation
Globally, cooperation has been centered on
development cooperation which revolves around
financial aid. Alonso and Glennie (2016) stated that
development cooperation can also include market
flows like remittances or foreign direct investment.
They also noted that development cooperation should
have three major tasks:
1. Supporting and complementing efforts of
developing countries to guarantee the provision of
universal social basic standards to their citizens,
as a means for people to exercise their basic
human right;
2. Promoting the convergence of the developing
countries to higher levels of income and
wellbeing , correcting extreme international
inequalities; and
3. Supporting efforts of developing countries to
participate actively in the provision of
international public goods.
Contrary to the above aims of development
cooperation which was aimed at the developing
countries alone, the COVID-19 pandemic created a
paradigm shift by making the development
cooperation not only an African agenda but also a
global focus as virtually all countries reached out for
assistance during the pandemic and the post pandemic
era.
4. COOPERATIVE
A. Meaning and characteristics
The cooperative has been touted as an organizational
form that is structurally different from the Investor
Oriented Firm (IOF) in terms of its ownership and
management composition. Cooperative by definition
is described as "an autonomous association of persons
united voluntarily to meet their common economic,
social, and cultural needs and aspirations through a
jointly-owned enterprise" (ICA, 1995). It is therefore
a user-owned and democratically controlled
enterprise in which benefit is received according to
use. In this case, membership of cooperative avail a
member the opportunity of social and economic
safety. Cooperatives are democratically owned by
their members, with each member having one vote in
electing the board of directors. Generally
cooperatives may include:
1. Businesses owned and managed by the people
who use their services (a consumer cooperative).
2. Organizations managed by the people who work
there (worker cooperatives).
3. Multi-stakeholder or hybrid cooperatives that
share ownership between different stakeholder
groups. For example, care cooperatives where
ownership is shared between both care-givers and
receivers. Stakeholders might also include non-
profits or investors.
4. Second- and third-tier cooperatives whose
members are other cooperatives.
5. Platform cooperatives that use a cooperatively
owned and governed website, mobile app or a
protocol to facilitate the sale of goods and
services (Worldwatch Institute, 2014).
B. Cooperative as a Growth Driver
Arguably, the cooperative model of enterprise has in
recent time proven to be more sustainable and reliable
platform for social and economic transformation in
the Nigerian economy in the pandemic era for
obvious reasons:
1. The government and donor agencies have in
recent time relied on cooperative in fighting
hunger and poverty.
2. The cooperative has also been relied upon for
achieving national food security programme.
3. Institutions, both educational and agencies are
setting up one form of cooperative organization or
the other for solving their social and economic
needs.
4. Research has shown that many micro business
owners rely on cooperative group membership for
their business growth.
5. Today, the cooperative ideals are spread across all
sectors of the economy even without much
publicity.
6. Most importantly the pandemic made thousands,
if not millions of people informal members of
cooperative organization in an effort to survive
the vicious attack of the pandemic.
7. During the covid-19, cooperatives bought food
items and shared to their members.
8. Soft loans were given to members by
cooperatives during the covid-19.
9. Meetings of Cooperative continued though on
WhatsApp and zoom during the covid-19.
10. In most cooperative, Interests were waived for
members.
11. Most cooperative educated members on covid-19
safety measure compliance protocole.

12. The reserve of some cooperatives was used to
help members cushion the effect of COVID-19.
13. The board of most cooperatives decided not to lay
off any of their staff.
14. Loans were given to members during the covid-
19.
15. Members were given soft landing in repaying
their loans.
16. Cooperative were publicized during the covid-19
as non-members became willing to join
Cooperative.
17. There was boom in the agricultural and health
sector because restrictions were not placed on
them.
5. CONCLUSION
In conclusion, this paper has shown that the COVID-
19 pandemic was devastating to the global economy
including Nigeria, even in this Post COVID-Era; a lot
of people are still not recovered from the devastating
effort of the pandemic. Poverty is wide spread and
inequality and unemployment still soars. This paper
however contends that the cooperative model of
business has proven to have very strong efficacy in
lifting millions of Nigerian from the devastating
effect of the pandemic. Many growth and recovery
efforts from the government and donor agencies were
seen to be carried out on the platform of cooperative.
It therefore becomes imperative to strive to have a
clear-cut cooperative sector that will serve as a
professional and institutional base for cooperative
growth and development in Nigeria.
REFERENCES
[1] Alonso, J. A. &Glennie, J. (2016). What is
Development Cooperation? Development
Cooperation Forum Policy Briefs, February
2015, No. 1
[2] Anjorin, A. A. (2020). The coronavirus disease
2019 (COVID-19) pandemic: A review and an
update on cases in Africa. Asian Pacific Journal
of Tropical Medicine 2020; 13(5): 199-203.
doi:10.4103/1995-7645.281612.
[3] Balkhair, A. A. (2020). COVID-19 Pandemic:
A New Chapter in the History of Infectious
Diseases. Oman Medical Journal, 35(2), e123.
[4] Gennaro, F. D., Pizzol, D., Marotta, C.,
Antunes, M., Racalbuto, V., Veronese, N., &
Smith, L. (2020). Coronavirus Diseases
(COVID-19) Current Status and Future
Perspectives: A Narrative Review.
International Journal of Environmental
Research and Public Health Review. 17: 2690;
doi:10.3390/ijerph17082690
[5] Hu, B., Guo, H., Zhou, P. & Shi, Z. L. (2020).
Characteristics of SARS- CoV-2 and COVID-
19. Nature Reviews Microbiology, 19: 141-154.
[6] IMF 2020, World Economic Outlook. April
2020: The Great Lockdown.
[7] Khamis, A. M., Kamel, M. S. &Salichs, M. A.
(2006). Cooperation: Concepts and General
Typology. IEEE International Conference on
Systems, Man and
Cybernetics.10.1109/ICSMC.2006.384929
[8] Law, P.K. (2020). COVID-19 Pandemic: Its
Origin, Implications and Treatments. Open
Journal of Regenerative Medicine, 9: 43-64.
https://doi.org/10.4236/ojrm.2020.92006
[9] OECD (2020).OECD Policy Responses to
Coronavirus (COVID-19).Policy tracker
(https://oecd.github.io/OECD-covid-action-
map).
[10] Shabir Ahmad Lone &Aijaz Ahmad (2020)
COVID-19 pandemic – an African perspective,
Emerging Microbes & Infections, 9(1), 1300-
1308, DOI: 10.1080/22221751.2020.1775132
[11] The Royal Institute of International Affairs
(2021).
https://www.chathamhouse.org/2020/11/six-
aspects-daily-life-rapidly-changed-covid-19
[12] The World Bank Group (2021).
https://blogs.worldbank.org/voices/2020-year-
review-impact-covid-19-12-charts
[13] UNCTAD (2020).South-South Cooperation at
the time of COVID-19: Building Solidarity
Among Developing Countries
[14] UNCTAD, 2020a. The Covid-19 Shock to
Developing Countries: Towards a “whatever it
takes” programme for the two-thirds of the
world’s population being left behind. United
Nations. Geneva.
[15] World Health Organization. Infection
prevention and control during health care when
COVID-19 is suspected
https://www.who.int/publications-
detail/infection-prevention-and-control-during-
health-care-when-novel-coronavirus-(ncov)-
infection-is-suspected-20200125.
[16] Worldwatch Institute (2014). "Membership in
Co-operative Businesses Reaches 1 Billion –
World watch Institute"
[17] Zagumny, M. J. (2013). Cooperation. The
Encyclopedia of Cross-Cultural Psychology,
First Edition. Edited by Kenneth D. Keith.

Cooperative A Positive Growth Driver in a Pandemic Economy

More Related Content

Similar to Cooperative A Positive Growth Driver in a Pandemic Economy (20)

More from ijtsrd (20)

Recently uploaded (20)

Cooperative A Positive Growth Driver in a Pandemic Economy