Financial Literacy and Investment Decision-Making Among University Students in South East Nigeria

This study investigates the relationship between financial literacy levels and investment decision-making among undergraduate students in selected universities in South East Nigeria. Youth investment participation is critical to deepening Nigeria's capital markets and building a culture of long-term wealth creation. However, survey evidence consistently shows that Nigerian university students have low financial literacy rates and limited engagement with formal investment instruments. This study uses a descriptive survey design, administering questionnaires to 200 undergraduate students from three universities in Enugu and Imo States. Financial literacy is measured across three dimensions: financial knowledge, financial attitude, and financial behavior. Investment decision quality is assessed using measures of diversification awareness, risk tolerance alignment, and return expectation realism. Data are analyzed using descriptive statistics and Spearman rank correlation. Results indicate that financial knowledge and attitude are significantly correlated with better investment decision quality. Students with prior exposure to accounting and finance courses demonstrated significantly higher financial literacy scores. Social media platforms were identified as the primary but often unreliable source of investment information for this demographic. The study concludes that integrating practical financial literacy components into university curricula is essential for empowering young Nigerians to make informed investment decisions. It recommends that the Securities and Exchange Commission scale up campus-based investor education programs and partner with universities to embed financial literacy training into general studies curricula.

Keywords: financial literacy, investment decisions, university students, South East Nigeria, capital markets.