Citation :

Isikilu Bayo Oloyede, Akinola Moses Owolabi, 2024. "Domestic Resource Mobilisation, Quality Education and Economic Growth in Nigeria" ESP International Journal of Science, Humanities & Management Studies(ESP-IJSHMS)  Volume 2, Issue 1: 48-58.

Abstract :

Domestic Resource Mobilisation (DRM), which entails the creation of funds from domestic resources and their allocation to economically and publicly dynamic investments like infrastructure, public safety, education, and health care, has remained a crucial component in accomplishing the SDG. Nonetheless, educators have a difficulty in their efforts to improve pedagogical techniques, support student growth, and advance society due to the scarcity of resources. This study looks into the connection between Nigeria's economic growth, high-quality education, and mobilisation of local resources. From 1992 to 2021, time series data were gathered from reliable sources such the CBN Statistical Bulletin, the World Bank, and UNESCO. The analysis methods include the Auto Regressive Distributed Lag Model (ARDL) regression, the unit root test, and the co-integration test. The results showed that although tax revenue was statistically significant, it eventually had a negative connection with economic growth. In the short term, nonetheless, it had a positive impact on economic growth. Additionally, research indicated that oil revenue was a key factor in both the short- and long-term rises in economic growth. It was discovered that educational spending was statistically unimportant over the long and short terms. In a similar vein, literacy was shown to be negligible but has the potential to boost Nigeria's economy both now and in the future. Additionally, research showed that tax income has a major impact on the quality of schooling. However, the outcome demonstrated that tax revenue had little long-term positive impact on Nigerian education standards. It did, however, demonstrate a short-term favourable correlation with high-quality education, albeit one that lacked statistical significance. On the other hand, both immediately and over time, oil revenue has a major impact on the quality of education. Considering that the education sector has been allotted appropriate financing, the government should establish oversight and accountability systems based on the findings in order to prevent the misallocation of education spending. More forcefully, in order to encourage the participation of economically disadvantaged people in education, government support for basic educational supplies and equipment is necessary to lower the cost of education.

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Keywords :

Domestic Resource Mobilisation, Quality Education, Economic Growth, Tax Revenue, Oil Revenue Literacy, Expenditure on Education.