Financial Literacy and Agropreneurship in Edo State

ABSTRACTThis study explores the critical role of financial literacy in fostering sustainable agropreneurship in Edo State, Nigeria. Financial literacy, defined as the ability to comprehend and utilize financial concepts such as budgeting, saving, investing, and managing credit, is essential for the effective management of resources and the growth of agropreneurial enterprises. Despite the vital importance of agriculture for economic development and job creation in Nigeria, many agropreneurs face significant challenges due to a lack of financial literacy.The research aims to assess the levels of financial literacy among agropreneurs in Edo State, identify existing gaps, and suggest strategies to enhance their financial skills and entrepreneurial success. A structured questionnaire was administered to a sample of 100 agropreneurs in Edo State. The data collected was analyzed using both quantitative and qualitative methods to provide a comprehensive understanding of the issues at hand.The findings reveal that low levels of financial literacy among agropreneurs in Edo State contribute to poor financial planning, limited access to credit, and ineffective use of modern financial technologies. This study highlights the importance of financial education initiatives to bridge the financial knowledge gap and empower agropreneurs to make informed financial decisions. The study concludes that addressing the financial literacy gap is crucial for the success and sustainability of agropreneurship in Edo State and recommends targeted financial education programs, policy support to empower agropreneurs with essential financial management skills. Future research should focus on longitudinal studies, regional differences and gender dynamics to track the impact of financial literacy initiatives over time and explore the intersectionality of financial literacy with other factors such as technology and education in agropreneurship development.