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ABSTRACT
This study investigated the impact of government educational expenditure and educational development in Nigeria using annual time series data for the period 1990-2022. The main objective of this research work is to evaluate the impact of government educational expenditure and educational development in Nigeria. In this paper, the Augmented Dickey-fuller (ADF) test was used to test for the stationarity of the variables. The result obtained showed that the variables stationarity status was of a mixed order. Moreover, the ARDL Bound Test Co-integration technique was used to establish if the stationary variables are co-integrated in the long run. Also, the Autoregressive Distributed Lag Model was used as the technique of analysis whereby the long and short run models were estimated. The results so obtained revealed that the model is well specified and could be used for policy analysis. Data used for the analysis were extracted from the Central Bank of Nigeria (CBN) statistical bulletin and the World Development Indicators (WDI). The study is based on the endogenous growth theory and its associated model. Moreover, this paper adapted the model used by Ufoeze et al (2017) for its econometric analysis. The study utilized three of the four components of the human development index as measures for educational development. The independent variables were Federal government total expenditure, State government total expenditure and Local government total expenditure. The results obtained suggests that all the explanatory variables of the model were significant to a large extent in explaining development as measured by the components of the human development index (HDI) in the short run. While only Federal government expenditures significantly impacted educational development in the long run. Finally, the study recommends that fiscal autonomy be granted to the local government. While also ensuring transparency and accountability in the use of the common wealth of the nation.
