Salako Comfort Taiwo
Demonstration Secondary School
University of Jos, Plateau State
E-mail:comforttaiwo81@yahoo.com
ABSTRACT
Education is widely accepted as a major
instrument for promoting socio-economic, political and cultural development.
Education is a life-long process that has interpretation in purpose, type and
level. It is a means of socializing people into the community, for upholding
customs and traditions as well as for the modification or changing of same in
conformity with existing ideologies, ideological expansion or reformation. University
education aims at generating national development. It should not only to seek
to develop the intellectual capacities of individuals to understand and
appreciate their environment, but should endeavour to equip recipients with
requisite physical and intellectual skills fit for life in the society. The
achievement of these objectives, centre round its ability to encourage
teaching, research and community service. This paper examined
financing university education in Nigeria and its implications for staff and
students’ management in the South West Geo- Political Zone for the period
of six years (2001-2006). It was found out that the gross inadequate financing
of education sector has been rendering the university education incapacitated.
Government’s allocation to universities is grossly insufficient to take care of
the population explosion of staff and students in these institutions and the
funding pattern did not give adequate consideration to the requirement of the
universities. Education sector supposed to be given a high priority in
budgetary allocations because it produces the skilled manpower for other
sectors of the economy. If smaller nations like Ghana and Cameroon could fund
education better, there is no reason why Nigeria cannot do better. Therefore, it was recommended that government should allocate more funds into
the education sector in order to address the current dreadful decadence in the
university system, review upward
the pay-package of academics to prevent brain drain, universities should search
for better ways of generating revenue to supplement government efforts, some of
which are large scale farming, animal breeding industries and consultancy
services in the areas of research.
Keywords:
Financing, University Education, Management
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