RISK FINANCING TECHNIQUES AND SAFETY CULTURE OF ROAD CONSTRUCTION COMPANIES IN EKITI STATE, NIGERIA.

Abstract

This study explores the effects of risk financing techniques on the safety culture among selected road construction companies in Ado-Ekiti, Nigeria. The study engaged a descriptive survey research design. The population of the study comprises all twenty-eight (28) indigenous road construction companies in Ekiti State out of which seven road construction companies were purposively chosen for the study. A total of 130 copies of a structured questionnaire were dispersed among the respondents to gather data for this study, out of which 118 which represent a 90.6% response rate was found useful for analysis. Descriptive and inferential statistics were used for data analysis. The regression results from the structural equation model revealed that Risk retention has a significant influence on the safety culture with estimates .143(P= .015< .05) while the risk transfer technique recorded an estimate -.002(P=.987>.05) indicating a negative insignificant relationship with the safety culture of road construction companies in Ekiti State, Nigeria. Finally, this study confirms that risk financing techniques hold a negative significant joint influence on the safety culture of road construction companies in the metropolis of Ado, Ekiti State based on reported estimates -.591and (P =***< .05). Therefore, the researcher recommends that road contractors should be meticulous about the appropriate risk financing techniques that will aid safety culture.