Funding of Vocational and Technical Education in Nigeria in Times of Global Economic Recession

Abstract

Funding has been the bane of education in Nigeria. The global economic recession eventually came to complicate the matter. This notwithstanding, the focus of Vocational and Technical Education with regard to skills acquisition cannot be compromised. This paper x-rays the education funding pattern in Nigeria, assesses the methods of funding of Vocational and Technical Education in Nigeria as well as the need for and ways of adequate funding of Vocational and Technical Education in Nigeria in times of economic recession. The work recommends among others, the need for endowment fund raising by educational institutions for the provision of facilities and equipment for Vocational and Technical Education Training, establishment of a cordial school/community liaison to raise funds to promote Vocational and Technical Education as well as that the Parents-Teachers Association and the Alumni Association should help out through cash and kind donation to foster Vocational Education Training in Nigeria.

Key words: Vocational and technical education, Global economic recession, internally generated revenue, Endowment fund, and Structural adjustment programme