AN ASSESSMENT OF UNDERGRADUATE STUDENTS’ KNOWLEDGE OF THE EFFECTS OF INSECURITY ON INFLATION IN THE NIGERIAN ECONOMY

Abstract

The study investigated students’ knowledge of the effects of insecurity on inflation in the Nigerian economy. A descriptive survey research design was adopted. The population for the study comprised all undergraduate students of higher institutions in Osun State. The sample size comprised 200 students selected from a public institution using a multistage sampling technique. A researcher designed questionnaires titled: Knowledge of inflation in the Nigerian economy (r = 0.86); Students’ Perceived Prevalence of Insecurity in Nigeria (r = 0.75); and Effects of Insecurity on Inflation in the Nigerian Economy (r =0.75), which were used to collect data for the study. The data obtained were analysed using frequency and percentage, mean, SD, Ranking, and an independent t-test.  The results showed that the undergraduate students had low knowledge of what inflation implies in the economy. There was no significant difference, based on gender, in the students’ understanding of the effects of insecurity on inflation. It was recommended that students should be kept abreast of unfolding situations in the country, irrespective of their location and their direct or indirect experience of the situation.