Effects of Economic Recession on the Lifestyle of Undergraduates in Nigeria

Abstract

The implications of economic recession on undergraduate students cannot be overlooked. This study investigated the effects of economic recession on the lifestyle of undergraduates in Nigeria. Simple random sampling technique was used to select 247 respondents. Data were collected with the aid of questionnaire and analyzed using descriptive and inferential statistics. The mean age of the respondents was 23 years. Results showed that, among the perceived indicators of economic recession, a general rise in price of goods and services (mean=4.34) ranked first, followed by an inadequate regulation framework for financial institutions (mean=4.05). In terms of lifestyle, the majority of respondents (88.7%) engaged in religious activities while 82.8% engaged in peer group-related activities. In terms of coping strategies, the highest percentage of respondents (85.5%) prioritised what they do in their social life, while 82.4% respondents organized their daily activities and how best to accomplish tasks. Loss of sense of direction and purpose (mean=4.13) ranked highest among the effects of economic recession while living life one day at a time and not thinking about the future (mean=3.90) ranked second. There was a significant relationship between indicators of economic recession and effect of economic recession on lifestyles of undergraduates (r=0.291). It is recommended that parents or other care-givers should ensure that they provide for the needs of their children during economic recession to prevent their engagement in negative social vices and actions that may affect their lifestyles. © 2018 Published by Future Academy www.FutureAcademy.org.uk