FINANCIAL LITERACY, VOCATIONAL EDUCATION AND YOUTH GAMBLING BEHAVIOUR AMONG UNDERGRADUATE STUDENTS

Abstract

The rising prevalence of gambling among Nigerian youths has become a major socio-economic concern, with adverse consequences for financial wellbeing, productivity, and sustainable development. This study examined the roles of vocational skills development and financial literacy education in mitigating gambling tendencies among students of the Federal College of Education (Technical), Akoka, Lagos State, Nigeria. Specifically, the study investigated the prevalence and patterns of gambling behaviour, assessed the influence
of financial literacy on gambling tendencies, determined the effect of vocational skills development on gambling behaviour, and examined the implications of gambling on students' financial freedom. A descriptive survey research design was adopted. A sample of 120 students was selected through simple random sampling, while data were collected using a structured questionnaire. Descriptive statistics were used to answer the research questions, whereas Pearson Product Moment Correlation and multiple regression analysis tested the hypotheses at the 0.05 level of significance. The findings revealed a high prevalence of gambling, with football betting, online betting, and Premier Lotto being the most common forms. Financial literacy showed a significant negative relationship with gambling behaviour (r = -0.621, p < 0.05), while vocational skills development significantly reduced gambling tendencies. The joint prediction model showed that both interventions explained a significant proportion of variance in youth gambling tendencies (R2 = 0.548, p < 0.05). Gambling behaviour was also found to undermine students' financial freedom through poor savings, financial stress, and increased financial vulnerability (r = -0.684, p < 0.05). The study concludes that strengthening financial literacy and vocational skills acquisition can effectively reduce gambling tendencies and promote financial independence among Nigerian youths. It recommends integrating financial literacy and vocational skills development into youth empowerment programmes and tertiary education curricula.