APPRENTICESHIP TRAINING AND WEALTH CREATION IN SOUTH EAST NIGERIA

Abstract

The study is on apprenticeship training and wealth creation in Southeast Nigeria. The
apprenticeship system has long been an integral part of the economic and social fabric of
Southeast Nigeria. Currently, the youth are interested in getting rich quickly instead of
serving as apprentices. The objectives are to ascertain if apprenticeship training and expert
trade knowledge are significantly related and if there is a relationship between financial
literacy and business growth. The study adopted a survey research design that describes the
items and people under investigation as they exist in their normal setting as a representative
of the entire group. Data were collected with an instrument of structured questionnaires
from 15 markets selected across the southeast of Nigeria that were used as a study with a
population of 9806 masters (with apprentices serving them). Using the Taro Yamane
formula, the sample size was estimated at 384 masters, and using the sample proportionate
formula, the sample size was distributed across the markets. Simple random sampling and
criterion-purposive sampling techniques were adopted to select the sample population. 384
questionnaires were distributed, and 276 representing 72% were returned and analysed. A
descriptive statistic was used to analyse the questionnaire according to research questions
and Pearson Product-Moment Correlation Coefficient statistical tool was applied with the
use of the Software Package for Social Science (SPSS) to test the hypotheses.