EDUCATION AND ECONOMIC DEVELOPMENT: IMPLICATIONS FOR NIGERIA

This paper examines education and economic development in Nigeria. The relationship between education growth and development as a force for increased economic growth and development has continued to attract attention of economist and policy makers. Experts observe that education has an impact on society both micro and macro levels. Policy makers and development planners have recognized the pivotal place of education as a means of increasing output as it has the capacity to improve health and productivity and provides an escape out of poverty. Hence, considering the place of education in nation development, countries of the world have been investing in this all important sector as the development of any nation may be traceable back to its level of stock of human capital. The paper recommend that education should be properly funded. Government should allocate greater part of the budget to education.