CONTINENTAL JOURNAL OF EDUCATION RESEARCH
Science and Education Development Institute

DOI: 10.5897/UJ-CJEducRes
Email: managingeditor.olawale71@gmail.com


ALTERNATIVE SOURCES OF FUNDING VOCATIONAL AND TECHNICAL EDUCATION IN NIGERIA

DOI: 10.5897/UJ-CJEducRes.17.007.1   |   Article Number: CD15271   |   Vol.8 (1) - June 2015

Authors:  Adegbenjo Abimbola Olunike and Olubato Felicia Yemisi

Keywords: Vocational and Technical Education (VTE), alternative sources of funding, occupation, self-reliant, Internal Generated Revenue (IGR)

Nigerian education is suffering from acute shortage of fund. For decades, the funding of education has been the sole responsibility of the government. At national level in 2012, N4.9trn budget proposal was presented to the National Assembly and N426.53bn was allocated representing 8.7 per cent of the national budget to Education compared to 26 per cent international benchmark for developing countries. Not bearing in mind that some programmes like Vocational and Technical Education (VTE) are practical oriented and large sum of money would be needed in order to retain its right place in the development of skills/competencies, self-reliance, technological, economical and national growth. It is disheartening that VTE in Nigeria is suffering the frustration and indignity of very low rating in the world ranking due to inadequate funding by the government. In view of this, the paper examines the alternative sources of funding Vocational and Technical Education in Nigeria. It was concluded that, the funding of VTE must not be left alone to the government; but every citizen of this nation must contribute his/her quota to ensure that quality education is given. It was recommended that institutions should generate Internal Generator Revenue (IGR) and seek for assistance from companies, philanthropists and alumni associations in order to finance Vocational and Technical Education adequately.

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