Proceedings of the 15th International Conference on Management, Economics and Humanities
Year: 2024
DOI:
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Effect of Globalization on Educational Development in Nigeria
Bashiru Ibrahim
ABSTRACT:
Due to the long existing high level of corruption in all levels of government, education in Nigeria has always suffered inappropriate funding which has led to poor infrastructure, and non-payment of teachers allowances, absence of good teaching aids, brain drain among teachers, unstable curriculum and subject, unstable staff, politicization of education, just to mention a few. The study made use of data ranging from 1981 to 2020. As a result, the goal of this study was to determine the impact of FDI on educational development in Nigeria. Foreign direct investment has a statistically significant impact on Nigeria’s tertiary education enrolment ratio, according to the findings. The study also discovered that foreign direct investment has a positive and statistically significant impact on Nigeria’s tertiary education enrolment ratio. The findings also show that per capita income has a positive effect on Nigeria’s tertiary education enrolment ratio. In line with the second objective, the findings revealed that there is a link between foreign direct investment and Nigerian human capital development. The government should put in place the appropriate framework to attract more FDI into the country, having established that it contributes significantly to the development of Nigerian education. An enabling social environment is required. Among other things, political stability and social security are important. More investment in education is needed to meet the rising demand for education among the growing population. Since per capita income is a source of education funding, there should be an increase in the minimum wage and production level, or promotion of economic activities. Government spending on health, education, and all other forms of training that contribute to the development of human capital should all be increased.
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