Financial literacy has emerged as a critical determinant of household economic well-being, yet its distribution across Nigeria's demographically diverse population remains insufficiently understood. This study investigates the relationship between individual demographic characteristics — specifically age, gender, marital status, education level, employment status, household income, occupation type, and household size — and financial literacy among Nigerian households. Employing a cross-sectional research design with ordinary least squares (OLS) regression, the study controls for location, access to financial services, financial socialization, economic factors, and cultural factors. Drawing on primary survey data from 430 household heads across six geopolitical zones, the findings reveal that education level, household income, employment status, and access to financial services exert statistically significant positive effects on financial literacy, while household size demonstrates a significant negative association. Gender differences are moderated substantially by cultural and geographic variables, with male-headed households exhibiting marginally higher financial literacy scores on average. Age exhibits a non-linear relationship, with middle-aged respondents demonstrating superior financial literacy relative to younger and older cohorts. Marital status and occupation type show context-dependent associations contingent on cultural and economic controls. The study contributes to the growing literature on financial literacy determinants in sub-Saharan Africa and provides actionable policy implications for financial inclusion strategies in Nigeria. Specifically, the findings underscore the urgency of targeted financial education programmes for low-income, low-education, and large-household groups, as well as gender-sensitive approaches to closing persistent financial knowledge gaps.
Onipe Adabenege Yahaya (Sat,) studied this question.