Empirical Review of Government Expenditure on Education and Economic Development in Nigeria (2000 – 2015) (Published)
The study empirically reviewed government expenditure on education and economic development in Nigeria from 2000–2015. The specific objective is to examine the extent to which the Nigerian GDP affects the government expenditure on education, social and community services and the number of school enrolment within the period being reviewed. Secondary data employed were from the EFA 2015 report and CBN bulletin published in 2016. Multiple regression analysis and student t-test were the statistical tools applied, with the use of SPSS for both data analysis and to test the hypotheses formulated for the study at 5% level of significance. The result indicated that expenditure on education is significant and impacts on the economy. While the result on SCS and ENRL showed a significant relationship with the GDP but little or no impact. The conclusion is that, the anti-graft fight by the present government to encourage proper use of resource allocation has to be encouraged by all good citizens and lovers of education. If the resources allocated are efficiently utilized to equip Government owned schools, education will be affordable by all and number of school drop-outs will reduce significantly.
Keywords: Economic Development, Education, GDP, enrolment, social and community services.