TECHNIQUES FOR IMPROVING GENERATION OF FUNDS FOR ADEQUATE PROVISION OF EDUCATIONAL FACILITIES IN TVET TERTIARY INSTITUTIONS IN NIGERIA

DOPEMU, OLUSHOLA AFOLABI & ADEYEFA, MATHEW ADEBOWALE

Abstract

The Nigerian education system is suffering from an acute shortage of funds. For years now, the funding of education has been the sole obligation of the government. Higher education is the instrument par excellence for the development and there is the ultimate need to make it relevant and responsive to the needs of the society. A reliable and adequate funding platform is a necessity for achieving access to excellence in education in Nigeria. Sources and systems of funding for Nigerian tertiary institutions have shown inadequate and innovative or alternative funding mechanisms have become very important more than ever before. This paper critically inspects the current state of educational facilities as well as the funding pattern in TVET Institutions in Nigeria. It is disheartening that TVET in Nigeria is suffering the frustration and indignity of a very low rating in the world ranking due to inadequate funding by the government. Because of this, the paper examines the alternative sources of funding Vocational and Technical Education in Nigeria. It was concluded that the funding of TVET must not be left exclusively to the government, but every citizen of this nation must contribute his/her proportional part to ensure that quality education is given. It was recommended that institutions should seek aid from companies, philanthropists and alumni associations to finance Vocational and Technical Education adequately.