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Psychosocial Determinants of Wealth Creation among Nigerian Migrants in Indiana: A Qualitative Study of Contextual Insights

Adeshola A. Afolabi*, Rotimi Oguntayo**

* Department of Education in Leadership and Learning, Aspen University, USA.

** University of Monterrey, San Pedro Garza García, N.L. 66238 Mexico.

Periodicity:July - December'2025

Abstract

Amid global income stagnation, rising debt, and inequality, wealth creation behavior (WCB) is vital for economic stability and individual prosperity. This study examined how personal values, career competence, educational attainment, and locus of control (LOC) influence WCB among Nigerian immigrants in Central Indiana, USA. Using a purposive sample of nine respondents aged 38–60 (M = 49.0, SD = 8.32), semi-structured interviews were thematically analyzed within the frameworks of Attribution Theory, the Theory of Planned Behavior, and Hofstede's Cultural Dimensions. Findings showed that resilience, discipline, and familial responsibility promoted financial planning; career competence facilitated adaptability and professional growth; educational attainment was limited by credential recognition and underemployment; and LOC shaped financial strategies, with internal LOC fostering proactive behaviors and external LOC attributing outcomes to systemic factors. The study offers nuanced insights into how international credential recognition, financial literacy, mentorship, and resilience shape the wealth creation experiences of Nigerian immigrants in the United States.

Keywords

Wealth Creation Behavior, Personal Values, Career Competence, Educational Attainment, Locus of Control, Nigerian Immigrants.

How to Cite this Article?

Afolabi, A. A and Oguntayo, R. (2025). Psychosocial Determinants of Wealth Creation among Nigerian Migrants in Indiana: A Qualitative Study of Contextual Insights. International Journal of Business Intelligent, 14(2), 1-14.

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Psychosocial Determinants of Wealth Creation among Nigerian Migrants in Indiana: A Qualitative Study of Contextual Insights

Abstract

Keywords

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