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In a bid to improve female education in girls, the UNICEF initiated some projects in Nigeria. one of them is The Girls’ Education Project initiated through a Memorandum of Understanding signed in December 2004 between the United Nations Children's Fund and the United Kingdom Department for International Development. [75]
The economy of Nigeria is a middle-income, mixed economy and emerging market [27] [28] with expanding manufacturing, financial, service, communications, technology, and entertainment sectors. [ 29 ] [ 30 ] It is ranked as the 53rd-largest economy in the world in terms of nominal GDP , the fourth largest in Africa and the 27th-largest in terms ...
Education economics or the economics of education is the study of economic issues relating to education, including the demand for education, the financing and provision of education, and the comparative efficiency of various educational programs and policies. From early works on the relationship between schooling and labor market outcomes for ...
One of the plan's key features was the usage of resources generated from oil production to increase the economy's production capacity and to ensure self-sustaining economic growth. Despite Nigeria's economy being heavily centred around the export of oil, with it composing roughly 80% of government revenue, the plans to finance the fourth ...
In 2016, Nigeria's Universal Basic Education Commission (UBEC) reported that it has the highest number of out-of-school children in the world, an estimated 10.5 million. [10] Hence, the implementation of the State Universal Basic Education Board's provision for free Universal Basic Education for every Nigerian child of school-going age.
Additionally, education is an important tool in the transmission of core values. The core values in education reflect on the economic and political systems that originally fueled education. One of the most important core value that is transmitted through the education system is individualism, the principle of being independent and self-reliant.
Women's education is one of the major explanatory variables behind the rates of social and economic development, [1] and has been shown to have a positive correlation with both. [ 2 ] [ 3 ] According to notable economist Lawrence Summers , "investment in the education of girls may well be the highest-return investment available in the ...
Nigeria had one of the world's highest economic growth rates, averaging 7.4% according to the Nigeria economic report that was released in July 2019 by the World Bank. [1] Following the oil price collapse in 2014–2016, combined with negative production shocks, the gross domestic product (GDP) growth rate dropped to 2.7% in 2015.