Abstract

The study assesses the role of community based organizations (CBOs) in economic development of Osogbo, Nigeria. This is with a view to establish the economic impact of CBOs on local economy and their significance in national economic development. It uses primary data collected from all the heads of 140 CBOs that have registered with the 2 local government councils in the study area as at the time of this study. Both descriptive and inferential analytical techniques are used to analyse data collected on the study. Specifically, correlation co-efficient with formular  is used to establish relationships between capital bases of the CBOs and the number of members (10,788 people) and amount that each CBO could loan to members respectively.

Research shows that most of the CBOs came into existence more than a decade ago (81.3%) and source for funds from their members (100%). About half (44%) of these CBOs give out loan to members. Findings on correlation co-efficient existing between capital bases of the CBOs and the number of members (10,788 people) and amount that each CBO could loan to members are 0.67 and 0.52 respectively. This indicate that despite that more than half (56.7%) of them do not loan out to members; they have the ability to loan out and by this could  cushion the effect of poor economy on and speed socio economic development of residents in the study area. The study shows that CBOs could act as vehicles toward sustainable socio economic and physical developments of communities in developing nations.

Key words: Socio-economic, development, community based organization, planning, government.