STAFF MULTI-PURPOSE COOPERATIVE SOCIETIES’ INSURANCE AND MEMBERS’ WELFARE IN PUBLIC TERTIARY INSTITUTIONS, AKWA IBOM STATE, NIGERIA

Abstract

The study determined the difference in the mean score between staff multi-purpose cooperative societies’ insurance and population score. One research question was raised and one hypothesis was formulated to guide the study. The study adopted descriptive survey design. The area of the study was Akwa Ibom State. Population of the study was 5,137 cooperative society members drawn from four Staff Multi-purpose Cooperative Societies in four Public Tertiary Institutions in Akwa Ibom State. The sample size for the study was 357 using purposive sampling technique. A researchers-developed instrument entitled “Staff Multi-purpose Cooperative Societies’ Insurance and Members’ Welfare in Public Tertiary Institutions (STAFFMPCSIMWPTI)” Questionnaire was used in collecting data for the study. The instrument was face-validated by three research experts. The reliability of the instrument was determined using Cronbach Alpha statistical tool and it yielded coefficient index of 0.85. The statistical tool used in answering the research question was Mean and Standard Deviation while one sample t-test was used to test the null hypothesis at .05 alpha with the help of Statistical Package for Social Science (SPSS). The study revealed that, there is difference between the mean score of variable of staff multi-purpose cooperative societies’ insurance and the population mean score. The study concluded that staff multi-purpose cooperative societies’ insurance have a profoundly positive impact on the welfare of members in public tertiary institutions. It was therefore recommended among others that the management of public tertiary institutions should prioritize the establishment and support of staff multi-purpose cooperative societies as a strategic initiative for promoting staff welfare and well-being. The government and relevant regulatory agencies should provide policy support and incentives to encourage the growth of staff multi-purpose cooperative societies in public tertiary institutions.