Strategic Partnerships and Growth of Agribusiness Ventures: A Study of Cooperative Societies in Ondo State, Nigeria
Sunday Adeniyi OLASEHINDE (PhD), Oladunni Ajoke AKINOLA (PhD), Israel Ehimare OGBEBOR & Funbi Omolara WEYA-AJAYI
This study investigates the impact of strategic partnerships on the market expansion of agribusiness ventures within cooperative societies in Ondo State, Nigeria. Using a quantitative approach, data were collected from 270 respondents (90% response rate) across cooperative societies in food crops, tree crops, livestock, and aquaculture via a structured questionnaire. Descriptive statistics and multiple regression analysis were employed to assess the influence of partnerships with input suppliers, processing firms, and market agents on market expansion, measured by increased market share, access to new markets, and higher sales volume. Findings reveal strong positive correlations (r = 0.73–0.75, p < 0.01) between these partnerships and market expansion, explaining 53–56% of the variance. Input suppliers (β = 0.70), processing firms (β = 0.68), and market agents (β = 0.69) significantly predict growth (p < 0.001). Ondo’s performance surpasses regional peers but lags global benchmarks due to infrastructural constraints. The study supports Resource-Based View and Stakeholder Theory, emphasizing partnerships as strategic assets. Recommendations include strengthening alliances with input suppliers, processing firms, and market agents, alongside training and government incentives to enhance cooperative growth.
Keywords: Strategic partnerships, cooperative agribusiness, market expansion, input suppliers, processing firms, Ondo State.