Sustenance of Entrepreneurship Culture: Requisite of Financial Literacy in Contemporary Nigerian Society

Martins Ojo Erinsakin

doi:10.56741/IISTR.jmsd.002510

Authors

Martins Ojo Erinsakin
erinsakinmartins@gmail.com
Adeyemi Federal University Of Education

DOI:

https://doi.org/10.56741/IISTR.jmsd.002510

Keywords:

Culture, Entrepreneurship, Financial Literacy, Nigeria, Sustenance

Abstract

Business failure has been a national issue of growing concern in Nigeria, and the reasons are varied. A descriptive survey research design was used. The study population comprised entrepreneurship students in Nigeria. The sample size of the study was 1,080 respondents who were selected through a simple random sampling technique, using a set of structured questionnaires that were validated for the study. Data were generated through a self-structured questionnaire titled Questionnaire on Sustenance of Entrepreneurship Culture: Requisite of Financial Literacy in Contemporary Nigerian Society (SECFRLNS), fashioned on a four-point rating scale: Strongly Agree (SA), Agree (A), Disagree (D), and Strongly Disagree (SD), respectively, and 1 point, respectively. The research instruments were validated by experts in Measurement and Evaluation. Its reliability was determined through the test-retest method at two weeks interval. 0.70 coefficient reliability was established. A conclusion was made based on the results that financial literacy has no significant and positive influence on entrepreneurship culture in contemporary Nigerian society. Recommendations were made that the government should make the country secure for business activities. Besides, entrepreneurs should be assisted to source the initial capital from the conventional banking sector.

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Author Biography

Martins Ojo Erinsakin , Adeyemi Federal University Of Education

is a Senior Lecturer in the Department of Adult and Continuing Education at Adeyemi Federal University of Education, Ondo, Nigeria. He holds NCE, B.A.Ed. in English, M.Ed., and Ph.D. in Adult Education. His specializations include Administration and Organization of Adult Education and Environmental Education. He has published widely in reputable journals and book chapters and currently researches insurgency and entrepreneurship development and related issues in Northern Nigeria. (email: erinsakinmartins@gmail.com).

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