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SHORT-RUN EFFECT OF ESTABLISHMENT OF EDUCATIONAL INSTITUTION ON ECONOMIC GROWTH IN NIGERIA (1991-2013)

Abstract

This research project critically dealt with the short-run effect of establishment of educational institution on economic growth in Nigeria between (1991-2013).

The study was set out to examine the contribution of establishment of primary schools, and secondary schools to economic growth in Nigeria.  Data was acquired from central bank of Nigeria bulletin and office of National Bureau Statistic. A simple multiple regression technique was used to analyses the data. The result showed that the establishment of primary schools have positive impact on economic growth while the establishment of secondary schools have negative impact on economic growth. Based on this, recommendation was made that government should set-up a monitoring committee for the supervision of construction or establishment of institutions, in order to avoid embezzlement of the fund budgeting into this aspect of education, also government should allow the private individual to be involved in establishing secondary institutions for more proper management.

Table of contents

Title page

Certification

Dedication

Acknowledgement

Table of content

Abstract

Chapter one

Introduction

Background of the study

Statement of the problem

Objective of the study

Research questions

Statement of the hypothesis

Significance of the study

Scope of the study

Chapter two

 Literature review

Introduction

Theoretical literature

Economic growth model

Harrod growth model domar growth model

Comparative study of the two models point of similarity

Application of Harrod-Domar growth model

Education and economic growth

The social service sector in Nigeria

Structure of education in Nigeria

Quantitative implication

Educational policy and administration

Secondary education

Chapter three

Methodology

Research design

Sources of data

Model specification

A  priori expectation

Estimation techniques

Method of data analysis

Chapter four

Result and discussion

Introduction

Presentation of result

Interpretation of result

Chapter five

Summary, conclusion and Recommendation

Summary

Conclusion

Recommendation

References

Appendices

 

 

 

CHAPTER ONE

Introduction

Background of the study

This study sets out to systematically and analytically examine the effect of establishment of educational institution on economic growth in Nigeria. Establishment of educational institution is one of the crucial areas to develop economy. Economic development is not possible without education. As Myrdal says “To start on national development programme while leaving the population largely illiterate seems to meet be futile for economic development, it is the  quality of labour that is more important, unskilled workers, even working for long hours, will have low per capital income. Illiterate and untrained person cannot be expected to operate and maintain complex machinery. It is by investing in them that their productivity can be increased. It is through public education that the state can increase the effective labour supply and hence the productive capacity of the nation. An education programme has to be wide and varied. There is need for primary education, so that every child for school going age may receive compulsory education. In order to provide material for the universities and to be opened. At the same time, training institutions are needed, for imparting instruction to machines, electricians, artisans, nurse, teachers, agricultural assistance etc. In the education echelon and the university education and research institution for turning out ever increasing number of doctors, administrators, engineers and all types of trained personnel” programme of education lie at the base of common citizenship to harness the energies of the people and develop the nation and human resource of every part of the country.

The success of economic policies promoting international competitiveness and sustained development in the final analysis hinder to a larger extent on the Adrian (1990) that not will stand Nigeria has already recognized the need of educational development in her economic advancement and as such has made several attempts at expanding her education system. Prominent economist identified education as the most powerful instrument for social reforms, which impart knowledge, skills and experimental activity.

 

 

Statement of the problem

Education is most desirable for our economy. Therefore education should be promoted at all levels. Higher level of man power production will provide the much required skilled labour needed in the society. The Federal government of Nigeria with regard to this fact, over the years had made various attempts in expanding the education system at all level especially at tertiary institution. This is to ensure that availability of a well educated labour to solve the problem of death of skilled man-power for certain jobs in the economy. Education as a key to capital formation according to “singer” which categories capital formation as tangible good, like high standards of education, scientific traditional and research. Education is met to solve the problem of illiteracy which increase the capital formation.

Objectives of the study

  1. To find out the factors responsible for the increment of economic growth in Nigeria.
  2. To verify, if economic growth can largely contribute to expansion in education.
  • To evaluate the effects of establishment institution in Nigeria.

Research Questions

  1. What are the factors responsible for the increment of economic growth in Nigeria?
  2. What are the economic growth contributions to expansion in education?
  • What are the evaluation effects of established institution in Nigeria?

Research Hypothesis

Null hypothesis (Ho)

No definite relationship exists between establishment of educational institutions and economic growth.

Alternative hypothesis (H1)

A definite relationship exists between establishment of educational institutions and economic growth.

Significance of the study

Taking into consideration the establishment of educational institutions in Nigeria, on economic growth and development of entrepreneurial skills and initiative should be of paramount importance especially at the tertiary level of education in order to facilitate employees ability to graduates who will increasingly be called upon to be not only urban seekers, but above all to become urban job seekers.

In this regard the essence of this study is to create awareness and to enlighten prominent Nigerians institutions of learning, government and the reader need to facilitate the acquisition of skills, competencies and abilities which are likely to stand the graduates of Nigeria universities.

Scope of the study

The study will cover a period of twenty three years precisely the period will between (1991-2013) inclusively.

Though there are factors which influence economic growth like labour force, investment and capital formation, the study will be restricted to educational factors.

 

 

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Updated: September 14, 2017 — 9:07 am

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