EDUCATIONAL FINANCING: ROLE OF INADEQUATE FUNDS ON NIGERIAN BUSINESS EDUCATION

Abstract

Managing education is a sensitive task that requires optimum understanding of its indices. Finance is one of the educational indices upon which educational successes lie. This study investigates the role of inadequate funds on business education activities in Nigeria. It is a qualitative designed study that examined a population of Six hundred (600), out of which three hundred and fifty (350) purposively selected samples were examined. Data employed were assembled through structured questionnaires, and therefore subjected to descriptive statistical analysis, using two of the measuring tools of central tendencies (Mean and the Standard Deviation) to draw inferences. Croribach αlpha formulae were also employed to test for results’ reliability. And in all of these, the study revealed and thus concludes that inadequate funds play significant and negative role on the business education activities as evident by the cumulative mean value of 31.12%. Also, the study posits that the Industrial-educational partnership and the collaboratory funding techniques have sizeable positive effect on the Nigerian business education. And it was on the basis of these revelations and conclusions that the study recommends to the Nigerian governments and every concerned policy-makers to adopt the Industrial-educational partnership and collaboratory funding approaches (both, educational collective financing techniques, involving relevant stakeholders) to financing business education activities in Nigeria. These financing approaches surely, will assist the nation in building formidable educational capital bases, improve education financial system, spur accountability, and also promote stakeholders’ inclusivity.