Strategies for funding technical vocational education and training for achieving sustainable national development in Nigeria in a post-oil boom economy

Abstract

The study investigated the strategies for effective funding of Technical Vocational Education and Training (TVET) programmes for sustainable development in post-oil boom era using descriptive survey research design. The population for this study consisted of 210 respondents comprising of 82 TVET lecturers in tertiary institutions and TVET teachers 128 in six technical colleges in Edo State offering TVET programmes. The sample for the study consisted of 137 respondents randomly sampled. A 62-item questionnaire developed from literature review was the instrument used for data collection. Three experts validated the instrument. Cronbach Alpha method was used to determine the internal consistency of the instrument and an index of .88 was obtained. Factor analysis was used to answer the research questions while the hypotheses were tested at .05 level using Analysis of variance (ANOVA). The findings of the study revealed among others that donations of tools, equipment and other learning materials from alumni associations, foreign assistance, public private partnership; skill development levy; currency transaction levy; air ticket solidarity levy; academic facility fee; ring-fenced TVET were some of the sources of funding TVET. Based on the findings of this study, it was recommended among others that government and all other stakeholders should urgently adopt the funding strategies identified in this study for TVET programmes for sustainable development in the post-oil boom economy.