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Project Topic:

THE EFFECT OF EDUCATION SPENDING ON ECONOMIC GROWTH IN NIGERIA

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 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 69 ::   Attributes: Data Analysis,abstract, table of content, references ::   58 people found this useful

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CHAPTER ONE; INTRODUCTION

1.1 BACKGROUND OF STUDY

Beside the contribution of education on national economic growth, it also plays significant role in reducing income inequality, research done by Phillipe, Peter and Fabrice, (2011) and Kakar, Khilji and Khan (2011) concluded that educational achievement as well as human capital development would positively reduce income inequality. In general, there is a consensus among the researchers that education influenced economic growth by reducing poverty incidence, social imbalances as well as income equality. Moreover, it gives a positive impact to the poor and needy to improve their live.

        The World Development Report (2007), examined how knowledge influences development. The report reinforces some well-known lessons, such as the value of knowledge gained through trade and foreign investment. It also highlights others that have sometimes been overlooked, such as how imperfect information leads to failure in all markets and the importance of institution to facilitate the flow of information. Moreover, the report looks at the role of knowledge in development, examining difference in knowledge across and within the countries, the impact of knowledge gaps and information failures on development, and the way in which governments in developing countries and international institutions can foster development by addressing these issues.

        Similarly, the report observes that the acquisition of knowledge and information is becoming increasingly critical to economic growth as science and engineering findings proliferate and take on ever-greater importance in production of goods and services. As information grows exponentially and as its incorporation in the production processes becomes increasingly complex, the ability to acquire, adopt, and adapt a new knowledge will be an important determinant of economic growth. This perhaps must have heightened the need to investigate the link between education and economic growth (Isola, 2012).

        To Obaji (2006), the responsibility of producing highly quality manpower and specialist is that of the nation's tertiary educational institutions. According to her, in the time past, thousands of well-trained manpower turned out in the tertiary institutions across the country was highly sought after both at home and abroad. The exploit of Nigerian experts abroad is a clear affirmation of the quality of training impacted on them by the institutions. However, that is not the same situation now as most Nigerian graduates are no longer employable. The quality of teachers constitutes a major determinant of the quality of education, because no educational system can rise above the quality of its teaching staff. The quality of teaching staff in the nation's educational institutions, whether primary, secondary or tertiary is a cause for concern. Their ability to deliver would be impaired by the ineffective training received.

1.2 STATEMENT OF RESEARCH PROBLEM

Despite the rise in government expenditure in Nigeria over these years, there are still public outcries over decaying infrastructural facilities. Also, merely few empirical studies have taken holistic examination of the effect of education spending on economics growth in Nigeria; more so, for Nigeria to be ready in its quest to become one of the largest economies in the world by the year 2020 determining the effect of education spending on economics growth in Nigeria.

1.3 RESEARCH QUESTIONS

The study came up with research questions so as to ascertain the above stated objectives of the study. The research questions for the study are:

  1. What is the relationship between education spending and economic growth in Nigeria?
  2. What are the sources of funding for the educational sector in Nigeria?
  3. What are the factors affecting the education spending in Nigeria?

1.4 AIM AND OBJECTIVES OF STUDY

The main aim of the research work is to determine the effect of education spending on economic growth in Nigeria. Other specific objectives of the study are:

  1. to determine the relationship between education spending and economic growth in Nigeria
  2. to determine the source of funding  for the educational sector in Nigeria
  3. to investigate on the factors affecting the education spending in Nigeria
  4. to proffer solution to the above stated problem

1.5 STATEMENT OF RESEARCH HYPOTHESIS

H0: there is no significant relationship between education spending and economic growth in Nigeria

H1: there is significant relationship between education spending and economic growth in Nigeria

1.6 SIGNIFICANCE OF STUDY

The study on the effect of education spending on economic growth in Nigeria will be of immense benefit to the educational sector in Nigeria; the government (local, state and federal) and other researchers that desires to carry out similar research on the above topic as the findings of the study will educate on the above population on the Education in Nigeria, the education spending and the its effect on the economic growth in Nigeria. Finally the study will contribute to the body of existing literature and knowledge in this field of study and provide a basis for further research

1.7 SCOPE AND LIMITATION OF STUDY

The study will cover on the effect of education spending on economic growth in Nigeria from 2000-2017.

Limitation of study

Financial constraint- Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet).

Time constraint- The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work

1.8 ORGANISATION OF STUDY

The study is will be divided into five chapters; the chapter one of the research work is will contain the background of study, the statement of research problem, the research questions, the aim and objectives of the study, statement of research hypothesis, the significance of study and the scope of study. The chapter two of the study will contain the review of related literature. The chapter three of the study will contain the research methodology; the chapter four of the research work will contain the data analysis of result while the chapter five will contain the summary, conclusion and recommendation.


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Paper Information

Format:ms word
Chapter:1-5
Pages:69
Attribute:Data Analysis,abstract, table of content, references
Price:₦3,000
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