TVET FINANCING AND RESOURCING FOR THE SUSTENANCE OF TECHNOLOGICAL EDUCATION IN NIGERIA (A STUDY OF THE FEDERAL POLYTECHNIC ILARO)

Abstract

Technical and Vocational Education and Training (TVET) is very important for the empowerment of youths globally, the unemployment rate of young graduates in Nigeria has been on a steady increase for years, and several scholars had in their reports and findings opined that the government should invest in technical and vocational training for Nigerian youth. This study examined the funding of the Nigerian Polytechnics and Technological Institutions using the Federal Polytechnic Ilaro as a case study, to assess whether the current increase in the Tertiary Education Tax from 2% to 2.5%, can it have a positive impact on technological education? as the focus of this study. To examine whether the current increase will lead to an increase in the funding of Polytechnics in Nigeria or will revitalize vocational and technical education in Nigeria. The methodology for the study was the sourcing of information through both secondary and primary sources, the study is descriptive, and the oral interview was used to examine the opinion of practitioners and the users of the services of these Institutions The finding reveals that there exists a gap between the industry and our TVET institutions and that the government should increase the percentage given to the Polytechnics from the proceeds of the Tertiary Education tax, which presently is 25%. The study recommended that the TVET institutions should identify through interaction with industries the challenges they have and find a way to provide practical solutions, this will bridge the gap between the institutions and the industries. Government should increase the funding of the Polytechnics in the country through the increase in the percentage accruing to it from the Tertiary Education Tax.