International NGO Journal Vol. 4 (5), pp. 236-252, May 2009 Available online at http:// www.academicjournals.org/INGOJ ISSN 1993–8225 © 2009 Academic Journals Article The role of community based organisations in economic development in Nigeria: The case of Oshogbo, Osun state, Nigeria. Albert Ayorinde Abegunde Department of Urban and Regional Planning, Faculty of Environmental Sciences, Obafemi Awolowo University, Ile Ife, Nigeria. E-mail:
[email protected]. Accepted 15 April, 2009 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 nΣxy − (Σx)(Σy) on the study. Specifically, correlation co-efficient with formular r = 2 is nΣx2 − (Σx)2 nΣy 2 − (Σy) 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.