Financial Management And Quality Assurance In Federal Government Colleges In South-West Zone Of Nigeria

ABSTRACT

This work examines how Federal Government Colleges in Nigeria obtain, allocate, utilize resources and evaluates the influence this has on the academic performances of the students. The study employed a descriptive research design. Data was collected from a sample of 745 respondents selected from 12 schools located in South West geo-political zone of Nigeria. The respondents were students in SSS3, teachers, Vice Principals and Principals, and the Director General in charge of Finance in the Ministry. The data collected was analysed using the analysis of variance, (ANOVA), Chi-square, Pearson product moment correlation and percentages. The seven hypotheses formulated were tested at 0.05 level of significance. The study revealed that the Federal Government spends forty-seven Naira per day on boarding students, an equivalent of about thirty-seven cents in US dollars. The major criteria used for allocation of funds is the students' population. Findings revealed that there was no significant relationship between teachers' academic qualification, student-teacher ratio and academic performance of students. It was recommended that a review of the situation is necessary to ensure that the negative influence that affects these colleges are minimized as efforts are taken to strengthen its quality assurance agenda.