SUSTAINABILITY OF TECHNICAL VOCATIONAL EDUCATION AND TRAINING FUNDING FOR HUMAN CAPITAL DEVELOPMENT IN NIGERIA

Abstract

The paper discussed the need for a funding policy for Technical Vocational Education and Training (TVET) in Nigeria as a necessity for its sustainability and human capital development. It examined the concepts of TVET, funding, and funding policy, the historical perspective of TVET funding patterns in Nigeria, the challenges of TVET funding in Nigeria, and the need for a TVET funding policy. The authors are of the view that financing of education, especially regarding TVET, proved to be a very challenging and thorny issue in Nigeria. Inadequate funding of TVET institutions can negatively impact the schools’ contribution to human capital development. Inadequate funding manifests in insufficient training machines, tools, equipment, and consumable materials, as well as poor staffing. The authors concluded that adequate funding of TVET will facilitate its sustainability, which in turn will lead to the sustainable development of Nigeria. The authors recommended, among others, that a funding policy should be developed for TVET in Nigeria, where other sources of funding should be exploited in addition to the already existing ones.