Government Expenditure on Education and Nigeria Economic Growth
This study examined the relationship between Government Expenditure on Education and Nigeria Economic Growth. The main objective is to find out the effect of government expenditures on education in Nigeria towards achieving sustained economic growth. The study employed a time series data obtained from Central Bank of Nigeria Statistical Bulletin and World Bank indicator. The methodology employed in the study was multiple regression analysis using ordinary least square (OLS). Gross Domestic Product (GDP) as dependent variable which was regressed against government expenditure on education (GEE) Life expectancy (LEXP) and Government Expenditure on Health (GEH) (independent variables). The unit root test revealed that all the variables were stationary at level except for Real Gross Domestic Product which was stationary at first difference given the 5% level of significance. The ARDL Bound test revealed a sustainable longrun relationship between Government Expenditure on Education and Nigeria Economic Growth. Based on the findings; the study recommends that government should increase its expenditure on education in order to ensure sustainable economic growth in the country, as government expenditure on education and health is very low as compared to UNESCO recommendation of 26% of the total budgetary allocation. It is also the view of this study that government should through its expenditures boost employment by increasing expenditure on skills acquisition Centres, symposiums and investing in industry that can train and employ the teeming unemployed youths in the country.