Socio-economic status of households in university of Ibadan social laboratory in Igbo-Ora, Oyo State, Nigeria

This study examined the socioeconomic indicator of households in Igbo-Ora community of Oyo State. Two hundred households were randomly selected and used for this study. A quantitative survey was conducted with the use of interview schedule. Both descriptive and inferential statistics were used to summarize and analyze data collected. Results of analysis revealed that 37.5% and 32.0% were between the ages of 22-32 years and 33- 43 years respectively. Majority were males (95.5%), married (92.0%), Muslims (68.0%), and secondary school leavers (43.0%). Eighty-two percent of the respondents had household size of 1-5 persons with 92.0% females and 84.5% of males. Most (45.0%) of respondents were artisans, who diversified into farming. Respondents (45.0%) earn between N451,000 - N901,000 annually from their various income generating activities. About sixty percent had low socioeconomic status. There was no significant relationship between sex (χ2=0.036, p=0.668), marital status (χ2=2.033, p=0.566), religion (χ2=4.325, p=0.115); and socioeconomic status of respondents in Igbo-Ora community. However, significant relationship existed between occupation (χ2=13.383, p=0.031), educational attainment (χ2=3.723, p=0.054); and socioeconomic status in the community. The socioeconomic status of respondents in Igbo-Ora was low. It is recommended that they should be sensitized on financial management and investment, given that their socioeconomic status was not commensurate with their income.