ENHANCING DEVELOPMENT THROUGH PUBLIC INVESTMENT IN HIGHER EDUCATION IN POSTCOLONIAL NIGERIA

Abstract

This paper explores the pivotal role of public investment in higher education as a catalyst for development in post-independence Nigeria. By examining the historical context and socio-economic challenges faced by the nation after gaining independence, this paper highlights the importance of investing in education as a means to drive sustainable development. Drawing upon various scholarly sources, it underscores how targeted funding towards higher education institutions can foster innovation, human capital development and societal advancement. Furthermore, it discusses the potential obstacles and policy implications associated with increasing public investment in the education sector, while also proposing strategies for effective implementation and monitoring. This paper argues that prioritizing education through public investment is essential for Nigeria’s journey towards inclusive growth, economic prosperity and social progress in the post-independence era. It therefore recommends among others that government should allocate a higher proportion of the national budget to higher education institutions to improve infrastructure, faculty development, research facilities and student support services.