This study, INFLUENCE OF INFLATION ON AVAILABILITY OF QUALITY EDUCATION IN NIGERIA contains concise information that will serve as a framework or guide for your project work. The project study is well-researched for academic purposes and are usually provided in complete chapters with adequate References.
TABLE OF CONTENTS
1.1 BACKGROUND OF THE STUDY
1.2 STATEMENT OF THE PROBLEM
1.3 OBJECTIVES OF THE STUDY
1.4 RESEARCH QUESTIONS
1.5 SIGNIFICANCE OF THE STUDY
1.6 SCOPE OF THE STUDY
1.7 LIMITATION OF THE STUDY
1.8 DEFINITION OF TERMS
2.0 LITERATURE REVIEW
2.1 CONCEPTUAL CLARIFICATION
2.1.2 CONCEPT OF INFLATION
2.1.3 CONCEPTUALIZING QUALITY AND QUALITY EDUCATION
2.1.4 APPROACHES TO QUALITY AND RELATED EDUCATION TRADITION
2.1.5 EFFECTS OF INFLATION AND DEFLATION
2.2 THEORETICAL FRAMEWORK
2.2.1 POSITIVIST THEORY
2.2.2 NEGATIVIST THEORY
2.4.3 NEUTRALIST THEORY
2.3 EMPIRICAL REVIEW
2.4 SUMMARY OF LITERATURE REVIEW
3.0 RESEARCH METHODOLOGY
3.1 RESEARCH DESIGN
3.2 AREA OF STUDY
3.3 POPULATION OF THE STUDY
3.4 RESEARCH SAMPLE AND SAMPLING TECHNIQUE
3.5 INSTRUMENT FOR DATA COLLECTION
3.6 VALIDITY OF THE INSTRUMENT
3.7 METHOD OF DATA COLLECTION
3.8 METHOD OF DATA ANALYSIS
4.0 DATA ANALYSIS AND PRESENTATION
5.0 SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION
5.5 SUGGESTION FOR FUTHER STUDY
1.1 BACKGROUND TO THE STUDY
Inflation is a word that most people hear these days and virtually nobody would like to experience or come in contact with. Unfortunately it has come to stay with us. Clautier and Underdown (2001) described it as what hits the consumer’s pocket by eroding the purchasing power of the currency and sometimes acts as hidden tax. It reduces nation competitiveness in world markets and can have a general debilitating effect on almost all type of economic activities. When one thinks of inflation what comes to mind is the dynamic situation of persistent increase in the price level which results in the diminution of real purchasing power of naira at your disposal at any time. Inflation, be it creeping, cost push, wage push or profit push is a condition of unrelenting price spiral. It has been generally described as a situation of rising prices arising from too much money chasing too few goods and always results when the aggregate demand exceeds the aggregate supply of goods and services. It has the net effect of reducing the purchasing power of the monetary unit. When this reduction in the purchasing power of money is gradual as it was the case in the early 60s, the recipient of fixed income is not worried. However, when change in price is a run-away (hyper) inflation as has been experienced in Nigeria since late 70’s the entire economic system will be at the brink of collapse (Emekekwe, 2008). However, inflation is not completely dreadful. A certain level of inflation is desirable in order to ensure sustainable economic growth. Beyond that level, it becomes a hydra –headed monster that has baffled monetary economics over the years, (Emekekwuse, 2008). At the undesirable level, inflation greatly affects financial decisions thereby constituting big source of uncertainty in the economic world.
Quality Education can only be guaranteed by quality funding. This is perhaps the foundational framework of this paper. A popular adage in Nigeria and some African nations is, the sweetness of the soup one eats is determined by the amount of money given to the wife to cook it. To a large extent funding of education at all levels will determine the quality of educational system that will be operational in any nation. Poor funding and poor management of funds within the educational system has led to the dysfunctional and unethical practices that has generated a multitude of limitations with the educational system, especially at the tertiary level. Situations of partisan politics where budgetary allocations are made based on patronage and other extraneous variables contract the principles of objective budgetary process which are detrimental to goal achievement. This poor funding and poor implementation of budgets has led to incidences of outstanding results, late results, inadequate staffing, non-availability, insufficiency of basic teaching facilities, etc (Okebukola, 2002; Marinho, 2002). Financing has to do with a firm/organization securing whatever capital it needs and employing it in activities which generate returns. Several authors has described financing as the process of raising capital or funds in other to engage it in ventures that will guarantee returns or profit (Van Horne, 1997; Pandey, 1999; Adedeji, 2002; Adesogan, 2003; Akintoye, 2004; Balami, 2002). Therefore we can say that the finance functions or decisions include investment and long-term asset-mix decision; financing and capital mix decision; profit and return decision; dividend and profit allocation decision; and liquidity and short-term asset mix decision. These functions are performed simultaneously and continuously in the normal source of the businesses (Akintoye, 2004). In financial decisions, the concept of rationality is always assumed. It is generally agreed that the financial goals of the firm or organization should be the mazimization of economic welfare of owners through profit maximization (Adidu, 2006; Borishade, 2002; Obadan and Uga, 2000; Odebiyi and Aina, 2004). It is important to state that, funding education in any nation cannot be viewed in terms of profit and loss, but the provision of economic satisfaction to citizens. The concept of profit maximization has been criticized over the years for its failure to provide an operational feasible measure for ranking alternative courses of actions in terms of economic efficiency (Davis, 1992; Van Horne, 1997; Taiwo, 1993). Once education funding is not classified as economic, the access to quality education by more citizens will be guaranteed. This will lead to economic growth and development.
1.2 STATEMENT OF THE PROBLEM
The call by the various government institutions to inject adequate funds into the educational sector is expedient.Until government invests adequately in education, we cannot achieve our set goals. Funding is central to an efficient and effective education. Inadequate funding has been the bane of our educational growth and development at all levels of education.For example, the problem of inadequate and dilapidated structures, inadequate facilities and equipment for teaching and learning as well as the welfare of staff in terms of remuneration and working environment all impedes the educational advancement in the country. It is necessary to stipulate in the National Policy on Education that the financing of education in Nigeria should be a joint responsibility of the federal, state and local governments. This has led to strike actions, school closure and massive students protests all over the country.According to Professor Imogie, University education is becoming very expensive to run as a result of the state of inflation and the declining purchase power of the naira.He suggested that government alone cannot bear the burden of financing education and that this is why the highly resisted Public Private Partnership (PPP) Initiative in funding of education should be re-examined.
It has been advocated that all the multinational companies operating in Nigeria should partner with the various governments towards funding education at the second and third levels of education in areas such as contributing money and encourage research andconsultancy services in universities, provide laboratory equipment, computers and laptops to our secondary schools to help ameliorate the bottleneck in the funding of education, providing scholarships andproducts development among other ways.
1.3 OBJECTIVE OF THE STUDY
The main objective of this study is to find out the effects of inflation on quality education in Nigeria. Specifically the study intend to
1.4 RESEARCH QUESTIONS
The following questions were raised to as to archive the stated objective above
1.5 RESEARCH HYPOTHESIS
Ho: There is no significance effect of inflation on availability of quality education in Nigeria
H1: There is a significance effect of inflation on availability of quality education in Nigeria
1.6 SIGNIFICANCE OF THE STUDY
This study will expose the government and other policy makers on the insight into the problems of inflation affecting the education sector, the economy and provide solutions to the problems of inflation on education, economic growth and development in Nigeria. Also to other researchers, it will add up to knowledge in relation to the Nigerian economy. It will also bring fulfilment of academic pursuit, thereby serving as a medium for students that would embark on similar research work in the future.
And to the general public, the study will broaden their knowledge about the effects of inflation on education and would also serve as an aid to providing information for further research
1.7 SCOPE OF THE STUDY
The scope of the study is wide. This is because inflation and its effects on the education sector is a global issue. Therefore, the researcher intends to limit the study of the influence of inflation on the availability of quality education on Oshodi/isolo local government area in Lagos state, but will generalize the result with what can be obtainable in the Nigerian Economy as a whole.
1.8 DELIMITATION OF THE STUDY
However, in the course of carrying out this research work, the researcher can foresee some limitations which include; insufficient financing, insufficient data for the research work and the time required for the project to be concluded.
1.9 DEFINITION OF TERMS
Influence: Ability to have effect on someone or something or the effect itself
Inflation: the persistent increase in the price of goods and services
Quality: the standard of something as measured against other things of a similar kind; the degree of excellence of something
Education: the process of receiving or giving systematic instruction, especially at a school or university
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