ANALYSIS OF BUDGETARY ALLOCATION TO EDUCATION SECTOR

ABSTRACT

Budgetary expenditure in education is regarded as investment in human capital as it have a favorable impacts on the economy. Over the years since independence, Nigeria’s most important macroeconomic objectives have been to achieve accelerated economic growth and poverty reduction. One the important means of funding education is through government budgetary allocation. Budgeting is an instrument used by government to regulate and control the activities of the public sector. The budget is a final statement of government estimated expenditure and expected income for a year. The Nigeria’s budget reflects the government’s priorities in various sectors. The study is focused on the analysis of budgetary allocation to Education sector in Nigeria from 2015 to 2020. Information was gathered from secondary data and was analyzed to evaluate the fund allocations to Nigeria educational sub sectors from 2016 to 2020, in line with the objectives of the study, some questions were asked which form the purpose of the study, which are; What was the total budgetary expenditures of Nigeria from 2015 to 2020? What was the budgetary allocation to the education sector in Nigeria from 2015 to 2020? What was the percentage of the budgetary allocation to education sector in Nigeria from 2015 to 2020? Amongst others. The research employs descriptive research design and make use of secondary data on budgets’ expenditures from Budget Office of the Federation from 2015 to 2020. The data was analyzed by use of descriptive statistics such as means, percentages, tables and bar charts.