VALUE CREATION AND CUSTOMER LOYALTY IN THE NIGERIAN BANKING SECTOR: A STUDY OF UNIVERSITY STUDENTS IN OGUN STATE, NIGERIA

The main objective of the study is to examine the effect of value creation on customer loyalty in the Nigerian banking sector among university students in Ogun State, Nigeria. Survey research design was used for the study. Data was collected through the use of questionnaire. Convenience sampling technique was used for the study. Descriptive statistics was used to analyze the respondents' bio data while multiple regression analysis was used to test the hypotheses formulated. Findings of the study confirmed that value creation (service quality, price and customer relationship management) had combined significant effect on customers' choice in the Nigerian banking sector among university students in Ogun State. Service quality, price and customer relationship management had combined significant effect on customer patronage. Finally, service quality, price and customer relationship management had combined significant effect on customer satisfaction in the Nigerian banking sector among university students in Ogun State. The study concluded that the Nigerian banking sector will gain the loyalty of their customers (students) in universities in Ogun State continually when they offer excellent services that suit or exceed the needs of customers, set affordable prices for the services they offer and build and maintain long-lasting relationship with their customers. The study recommended that Nigerian banks should improve on the quality of services they provide, charge prices that are fair to university students and provide quick response to the complaints and suggestions of university students in Ogun State.