SUSTAINABLE POVERTY ERADICATION PLAN

PROPOSAL FOR COMMUNITY FOOD MARKETING CENTRES

COOPERATIVE MARKET DEPOT SCHEME) CMDS

Name of Group: IGBOTAKO CLUB 10 COOPERATIVE MULTIPURPOSE SOCIETY Limited               

Address: c/o 1 Ewete Street, P. O. Box 62 Igbotako,

Osooro, Ondo State, Nigeria

Contact Person: Prince Bamidele Bajowa - Secretary 

Tel: 519 763 9123, email: bamidelebajowa@hotmail.com

Project Cost: N1,558,000 ($15,558)CND

Project Reach: 50,000 people

Key Activities: Food marketing, Community Access Centre 

GOALS

Our Group's Goals are to empower women in rural communities through initiatives that:

     Increase food production and supply

     Improve income-earning potentials of farmers

     Provide skills improvement training and information services

     Promote the protection of the environment

The cooperative was formed in January 1998 and was incorporated on 15th. April 1999

The Need

Project Objectives

The overall goal of the project is to improve the quality of life of people living in Osooro through the establishment food marketing centres (CMD Community Market Depots) in strategic locations all over the region.

The depots will serve as market centres, outlets for farmers to sell their produces and consumers to buy food items and other commercial goods at a discount.

The depots will also serve as community information centre

Expected Project Benefit

At least 50,000 people in the Osooro region will be affected economically as new fund are injected into the local economy.

Opportunity to  increase food production using economic principles (demand / supply)

Reduce poverty and improve nutritional health within the region.

Provide skills training and employment opportunities.

Generate funds for financing other development projects.

Provide credit for trade and capacity building.

Our immediate objectives are to support five different communities that had donated land and offered to donate labour in building their own Community Market Depot – Omotosho, Okeola, Abusoro, Lobuko and Igbotako; the first market centres at Omotosho and Igbotako will be initiated as pilot projects. Okeola and Abusoro Market Depots will provide access to most of the farmers with less transportation provision. 

Capital Accumulation and Reinvestment Plan

25 % of the cooperative’s net profit from operation will be pooled into a Capital Project Re-investment Plan CPRP account for the financing of other development projects.***

25 % will be pooled into a Micro Credit Investment Plan MCIP account for the provision of loans and short-term credit facilities to registered members.

25 % will be reinvested in operations.

25 % will be pooled into Membership Dividend Savings Plan MDSP account.

Conclusively, the strategy of selling food at a discount will encourage low prices on food items thus encouraging purchases, gains from sales and purchases can be in turn used to build and supports community infrastructure*** such as: schools / library, health clinic, activity and recreation centres, food processing / packaging centers and farm roads. Community self-help projects such as this will help Osooro people reap the true reward of democracy and free enterprice.

Opportunity to sell locally produced foods in urban centres and international markets through fair trade progammes worldwide, will increase the earning potentials of local citizens thus improving local economy  - a sure step towards sustainable poverty alleviation in Osooro region.