A Survey of Households’ Perception Towards Savings, Investment and Entrepreneurship in Taraba State, Nigeria

Abstract

The study is informed by the paw city of studies that have examined the households’ perception towards savings, investment and entrepreneurship in Taraba state. Prior studies have recognised and admitted that perception is vital in determining savings, investment and entrepreneurial activities of households. Therefore, households with favourable perception towards savings, investment and entrepreneurship could save, invest and engage in entrepreneurial activities. However, there exist paucity of studies that examine the households’ perception towards savings, investment and entrepreneurship in Taraba. Therefore, the objective of the study is to fill in the gaps in the literature and contributes to the body of knowledge by empirically examining the households’ perception towards savings, investment and entrepreneurship in the study area. Simple random sampling was used in composing the sample of 130 households in Jalingo metropolis. Data were collected using structured questionnaire on a five-point Likert scale. With SPSS version 22, data for the study were analysed using tables and percentages. The results show
that households’ perception towards savings is favourable (53%), 40.48% have unfavourable perception towards savings, while 6.52% of the respondents were unresolved in their responses. 55.4% of the respondents have favourable perception towards investment, 36% have an unfavourable perception, and 8.3% did not decide. 39.88% have favourable perception towards entrepreneurship, 34.03% have unfavourable perception and 26.1% were undecided. Hence, it is recommended that the government, NGOs and other stakeholders ought to develop and deploy required instrument that would help in creating awareness and sensitizing the household about the importance of savings, investment and entrepreneurship towards economic growth and development. Similarly, workshops, trainings and symposiums on savings, investment and entrepreneurship should be organised for the households to aid in developing favourable perception of the savings, investment and entrepreneurship.