Impact Of Educational Expenditure On Economic Growth In Nigeria

ABSTRACT

This study inspected the connection between educational expenditure and financial economic

growth in Nigeria utilizing time series and secondary data from 1981 to 2018, sourced from

the Central Bank of Nigeria (CBN), and the World Bank. Significant measurable apparatuses

were utilized in investigating the connections between these factors. Stationarity attributes of

the factors were tested utilizing the Augmented Dickey Fuller (ADF) procedure on Eviews. The

relationships between educational expenditure, and economic growth were test through

Ordinary Least Square analysis and Granger Causality test. The study had two hypothesis and

its population was Nigeria. Several similar literatures were reviewed to aid in the analysis of

our data. The discoveries show that educational expenditure has no causal connection with

economic growth. The outcome additionally demonstrated that educational expenditure has a

negative and inconsequential relationship with economic growth. The examination credited

these discoveries to the way that educational expenditure during the time of study was twisted

by superfluous factors, for example, strategy inefficiencies, poor financing, and funds

misappropriation, and so forth. The investigation suggests that in accordance with global

norms, the educational sector of Nigeria requires an institutional change as far as strategy

detailing, execution and tracking finances. Likewise, need must be given to other genuine

causal elements to economic growth.