OFEM IGOT BASSEY

Educational Management

At the Educational Management department office

Appointment on Visitation important

Topic: RETURNS TO INVESTMENT IN PUBLIC UNIVERSITY EDUCATION IN NIGERIA

Description: My research over the last eleven years has focused on the returns to investment in Public University Education in Nigeria with particular reference to Lagos State and full-time graduate (Bachelor’s) and post-graduate (Master’s and Doctorate) degree programmes using Cost Benefit Analysis investment appraisal technique. Within this broad topic, university education is found to be a profitable investment to the individual and the government as observed in the high demand for admission places in universities; the increase in the number of universities; high turnout of graduates and continuous expenditure by government and the household on university education. Decisions whether to undertake university education or not is dependent on both the costs to be incurred and the expected benefits but the actual costs and expected benefits from university education are still in doubt particularly in the case of Nigeria where there are high inflation rates; current economic challenges and unemployment of university graduates which is a major factor militating against returns to university education. Hence, there arises the need to weigh up the costs of university education against the expected benefits to give a better overall picture of the profitability of university education and to guide the educational investment decisions of the households and government/society as a whole and effective utilisation of limited resources available for optimal use. This line of research has led to the research on skills development and the demand for university education in Nigeria and Africa; research and funding Universities; graduate employability and their labour market readiness; extreme violence from graduate unemployment as well as research collaboration with colleagues from other universities within Nigeria and South Africa.

#	Certificate	School	Year
1.	Post-Graduate Diploma (Economics)	Department of Economics, Faculty of Social Sciences, Lagos State University	2014

UNIVERSITY EDUCATION AND ECONOMIC RECOVERY FOR NATIONAL DEVELOPMENT IN NIGERIA

Introduction

In today’s world of changing economic climate, emerging technologies and globalization, University education is the major driver of economic growth, recovery and development. The Nigerian economic outlook in 2021 and beyond is predicted by International Monetary Fund (IMF) to be weak, sluggish and subjected to downside risks from pandemic related developments. However, through training and research, universities are able to produce competent and high level skilled manpower needed in the labour market to promote economic growth as well as  globally competitiveness. This is in accordance with the observation of the International Institute for Educational Planning (IIEP) that University plays a crucial role in generating new ideas and can help produce the expertise who are able to manage development and engineer social transformation (IIEP, 2007). The need therefore arises to critically examine the value added and value expectations from universities the nation’s economic recovery.

Purpose of the Study

The purpose of the study is to examine the contributions of University education to the economic recovery and development in Nigeria.

Methodology

The study adopted the descriptive survey design using mainly secondary data from National Bureau of Statistics, National Universities. Commission, Millennium Development Goals MDGs Reports, Central Bank of Nigeria Annual economic reports of various years. The data for the study have been collected and analysed.

Work yet to be done

Writing the conclusion and publishing the findings of the study.

OFEM IGOT is a Senior Lecturer at the Department of Educational Management

OFEM has a Post-Graduate Diploma in Economics from Department of Economics, Faculty of Social Sciences, Lagos State University