Public Expenditure On Education And Economic Growth In Nigeria

Abstract

No doubt, human resources constitute the ultimate basis for the wealth of nations. Capital and natural resources are passive factors of production; human beings are the active agents who accumulate capital, exploit natural resources, build social, economic and political organization for sustainable economic development. It is against this backdrop that this paper examines the impact of public on education on the economic growth and development in Nigeria. Ordinary Least Square (OLS) method of analysis was utilized for the data analysis. The paper observes that misplacement of priority, poor budgetary allocation, and lack of political will to education has been the bane behind the dwindling fortune of the educational sector in Nigeria. The paper therefore urges the government to show greater commitment to educational development in terms of improved budgetary allocations.

Keywords: Education, Government Expenditure, Government Policy, Economic Growth.

JORIND Vol. 6 (1) 2008: pp. 1-1