As the global community emphasises financial literacy as a cornerstone of sustainable economic growth, Oluwafunmilola ‘Funmi’ Oriji, a renowned finance professional and advocate for financial education, has brought a fresh perspective to this crucial issue.
In her study, “Empowering Future Financial Leaders: An Examination of Peer-Led Financial Workshops and Their Impact on Financial Decision-Making Among Nigerian Secondary School Students,” Oriji sheds light on the transformative power of peer-led financial workshops in shaping the financial habits of young Nigerians.
Oriji’s research delves into the effectiveness of introducing financial literacy programmes in early secondary education. She argues, “Developing financial literacy during the formative years is essential for fostering responsible financial decision-making in adulthood. Financial literacy is not just a skill; it is a life-changing tool that can break cycles of poverty and build economic resilience.”
The study employed a mixed-methods approach, gathering both quantitative and qualitative data to measure the workshops’ impact. The quantitative findings were striking, revealing a 25% increase in students’ scores on financial knowledge-related questions after participating in the workshops. Furthermore, the students demonstrated enhanced financial attitudes, showing more confidence in managing money and understanding the importance of financial planning.
“These results highlight that financial literacy is not merely about theoretical knowledge,” Oriji explains. “It is about empowering individuals to make smarter financial decisions that align with their goals and values.”
More notably, the study identified significant behavioural changes among students. Participants reported a stronger inclination to save money, reduced impulsive spending, and improved debt management practices. These findings are critical in a country like Nigeria, where youth often face limited access to financial education and are at risk of falling into poor financial habits.
The qualitative aspect of Oriji’s research provided deeper insights. Through interviews, students shared their experiences of the workshops, emphasising the relatability and influence of peer leaders. “The workshops leveraged the power of peer influence,” Oriji states. “When students see their peers leading these discussions, they are more likely to engage, trust the content, and feel empowered to make changes.”
The implications of this study are far-reaching. Oriji highlights the importance of cultural sensitivity in financial education, stating, “Financial education must be tailored to the cultural and socio-economic context of its audience. By addressing the unique challenges and opportunities faced by Nigerian students, these workshops became not only educational but transformative.”
Despite the study’s achievements, Oriji acknowledges its limitations, including a relatively small sample size and the short-term focus on outcomes. She calls for further research in areas such as longitudinal studies, comparative analyses of peer-led and teacher-led models, and the integration of resource-efficient methods. “Our findings are a strong starting point,” she notes, “but there is much more to learn about how financial education can create sustainable change.”
Oriji’s study also emphasises sustainability in financial education programmes. She argues that consistent funding, training for peer leaders, and community involvement are critical to ensuring the long-term success of such initiatives. “Empowering students with financial knowledge is not a one-time effort,” she says. “It requires ongoing commitment from schools, policymakers, and communities.”
The broader societal implications of Oriji’s research cannot be overstated. By equipping young Nigerians with the skills to make informed and responsible financial decisions, these workshops have the potential to foster a generation of financially savvy individuals who can drive economic growth and stability in Nigeria.
“When we invest in financial literacy, we invest in the future,” Oriji concludes. “By equipping young people with the tools they need to make responsible financial decisions, we are laying the foundation for a more prosperous and equitable society.”
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