A COMPARATIVE STUDY OF COSTS AND BENEFITS OF PUBLIC SECONDARY EDUCATION IN EDUCATION DISTRICT V SENIOR SECONDARY SCHOOLS
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A
COMPARATIVE STUDY OF COSTS AND BENEFITS OF PUBLIC SECONDARY EDUCATION IN
EDUCATION DISTRICT V SENIOR SECONDARY SCHOOLS
ABSTRACT
The study
was designed to examine the comparison of social and private cost and benefit
of public secondary education in Education District V public Senior Secondary
school in Lagos State. The purpose of the study was to find out the extent to
which private and social costs vary with private and social benefits at
secondary level of education.
The
population consisted of all the senior secondary school students in 65 public
senior secondary schools. The sample used for the study consisted of 20 public
senior secondary schools, which was 30% of the total population 5 senior
secondary schools were randomly selected though simple random sampling. In each
school, 30 students were selected. Therefore, a total of 600 students and 600
workers srved as the sample for the study.
The data
collected were used to test four research hypotheses stated using the t-test
analysis.
The
following conclusion was reached based on the result of findings of the study:
There is a
significant difference between the social cost and private costs of secondary
education in Lagos State.
There is no
significant difference between the social benefit and private benefit of
secondary education in Lagos State.
There is a
significant difference between the private cost of educating the male female
students in secondary education in Lagos State.
Also, there
is a significant difference in the private benefit of educating the male and
female students in secondary education in Lagos state.
Finally,
recommendations were offered based on the result of findings form the
study.
CHAPTER ONE
INTRODUCTION
1.1Background
to the Study
The concept
of education as a productive investment in human skills, knowledge, and
capabilities has been in the literature since the first evaluative studies about fifty years ago. Education and
secondary education in particular has been increasingly recognized to play a
crucial role in the growth of national income individual earnings, political,
technological and social development of any nation.
In today’s
globalized and knowledge based economy, greater value and higher priority are
placed on the production and distribution of knowledge as the prerequisite for
economic growth and development. Education generally is the major source of
providing and increasing the human capital needed for the knowledge production.
Education has been defined in various form by different scholars. Omokhodion
and Dosunmu (2000) define education as deliberate and directional human endeavour which can lead to the provision of positive learning
experiences. They also stressed that experience gained by the learner from the
input of education prepares him to be useful to both the society and
themselves.
Olaniyonu,
Adekoya and Gbenu (2008) sees education as a continuous process in life. It
begins from one’s birth to death. It starts from homes and continues even after
school to adulthood.
According to
Adeyinka and Kayode (1996) the general purpose of education is to enable the
individual to fix himself up in the society unto which he has been born to
live, to enable him explore the world and find his own place in it, to enable
him develop his potentials to the full so that he could acquire knowledge and
training in a profession and so earn a good living.
In Nigeria,
the broad aims of secondary education as contained in the National Policy on
Education are preparation for useful living within the society, and preparation
for higher education. (Federal Republic of Nigeria 2004).
Secondary
education is a form of education which is very important and essential in
Nigeria. Without this education, it is impossible to acquire higher education
in Nigeria.
Education is
believed to have economic value which is enhanced by a well educated, highly
skilled and qualified workforce. For these reasons, governments all over the
world including the Nigerian government are providing more education to its
citizens either free or at highly subsided rates. This investment is comprised
of the direct costs of education and the earnings foregone while the individual
is in school.
The
provision for education particularly secondary education either by the
government or by the individual parents involve huge financial resources. These
financial investments in secondary education particularly by the government
reflects commitment and the importance attached to education compared with
other spending priorities such as health, agriculture, defence etc which is
usually determined by the proportion of government budget in relation to the
Gross Domestic Product.
The socio
economic rationale for providing secondary education especially in developing
countries is the Cost Benefit Analysis of the investment in secondary
education. Generally, given limited investible funds, cost Benefit Analysis is
the method of evaluating the growth / net economic impact of public projects
involving public expenditure. It is founded in the concept of rationality in
that it involves rational decision making that weighs the pros and cons of any
chosen option based on the clearly stated objective, economic value of the
project and ranks alternative investments in term of their objective functions
(profits, social benefits etc) and then considers investments that will yield
optimum results. Hence, the purpose of Cost Benefit Analysis is to determine
whether a project is desirable from the social welfare point of view by
determining the financial feasibility and economic performance of projects.
This serves as the basis for justification of the investments.
Also, cost
Benefit Analysis as an investment appraisal
method is a marginal analysis which provides the conceptual framework
for examining the costs and the benefits of investment in terms of how, when
and where the project/ activity should be carried out.
With regards
to educational investments, Cost Benefit Analysis emphasizes the importance of
determining the viability of any investment before it is made. It is widely
acknowledged that, in the education sector, particularly secondary education,
investment decisions as to the amount and type of education to demand and
invest in, is taken either by the individuals parents, government or the
society at large.
Every of
these levels in the matrix considers their own costs and benefits as a prelude
to opting in or out of the venture. Since education particularly secondary
education is of great economic significance to governments and their citizens,
with limited available resources at the disposal of policy makers in the
education industry and with investment decisions to be made by both the
individuals and governments, it is necessary that efforts should be made to find
out the yield or benefits derivable from investments in secondary education. It
is against this background that this study intend to analyze costs and benefits
of secondary education in Education District V of Lagos State with a view to
determining the economic profitability.
1.2Statement
of the Problem
Secondary
education in Nigeria is very important because without it one cannot further
his or her education. The government both at federal and state levels are
investing huge sums of money into this type of education with the hope that it
will benefit its citizens and the economy so also is the private individuals.
On the other hand, parents and the individuals are increasingly demanding for
more of this type of education with the aim of creating a prosperous family in
the future. Hence the place of education as a profitable investment cannot be
over estimated. It is therefore necessary to find out the profits that are
expected from investment in secondary education. This study is expected to find
out the extent to which the social cost of secondary education varies with the
social benefits and the extent to which private cost of secondary educations
varies with the private benefits.
The study
therefore is an attempt in answering the following questions.
1. How can the investment in secondary
education be justified?
2. Will the social benefits for
secondary education increase with the
increase in social cost?
3. Will the private benefits of
secondary education increase with increase in private costs?
1.3Purpose
of the Study
The purpose
of the study was to:
i. Examine the extent
to which the social cost of secondary education in education District V of
Lagos State Vary with their private costs.
ii. Examine the extent to
which the social benefits of secondary education in Education District V of
Lagos state vary with their private benefits.
iii. Compare the costs and
benefits of educating the male and female students in secondary schools in
Education District V of Lagos State.
iv. Examine the extent to
which the private return to secondary education in Education District V of
Lagos State vary with the social returns.
1.4Research
Questions
The
following are the research questions for this study.
i. Is there any significant difference
between the social costs and private costs of secondary education in Education
District V of Lagos State.
ii. Is there any significant difference
between the social benefits and private benefits of secondary education in
Education District V of Lagos State?
iii. Is there any significant difference in
the private cost of educating the male and the female students in secondary
education in Education District V of Lagos State.
iv. Is there any significant difference in
the private benefit of educating the male and the female students in secondary
education in Education District V of Lagos State?
1.5Research
Hypotheses
The
following hypotheses served as guide for this study
i. There is no significant difference
between the social costs and private costs of secondary education in Education
District V of Lagos State.
ii. There is no significant difference
between the social benefits and private benefits of secondary education in
Education District V of Lagos State.
iii. There is no significant difference in the private cost of educating
the male and female students in secondary education in Education District V of
Lagos State
iv. There is no significant difference in
the private benefits of educating the male and the female students in secondary
education in Education District V of Lagos State.
1.6Significance
of the Study
The study
will provide an insight for government, school authorities and education
managers to encourage individual to consider secondary education as a
preparatory stage to higher education
and not a terminal course.
The study
will encourage government (Federal and State) to ensure adequate funding of
secondary education.
The study will encourage policy makers to make
policy decisions with regards to teacher cost per student as the importance of
this direct social component cannot be over estimated.
Furthermore,
the study will encourage the government on the use of cost benefit analysis as
an investment appraisal tool in our education system as this can provide the
needed signal to direction of resources allocation.
1.7 Scope of the Study
This study
was limited in scope to randomly selected public senior secondary schools in
Education district V of Lagos State this study did not extend to ministry of
Education. This study investigated the cost of secondary education in selected
public senior secondary schools in Education District V of Lagos State. This study
did not consider privately owned secondary schools in Education District V of
Lagos State.
This study
also investigated the benefit /returns to investment in secondary education in the public and
private sectors of education District V
of Lagos State using the age education earnings profile of workers with
secondary school qualification.
1.8Limitation
of the Study
The study
was limited by the difficulty of obtaining accurate data on the cost of
secondary education especially the social cost as most of the Administrator of
the schools were not able to release all needed information for fear of being
probed. The students on the other hard, were not able to state accurately the
private cost of their education.
1.9 Operational Definition Of Terms
Operational
definition of terms used in this study were as follow:
Benefit: all
positive outcomes of consequence (quantifiable and non quantifiable) that
result from actions of secondary education.
Cost: the
value of resources that are used up to develop implement and operate the
secondary education programme being analyzed.
Cost Benefit
Analysis: The relationship between the cost of investing in secondary education
and the value of the benefit that results from secondary education.
Direct
Private Costs: All costs incurred by the individual or their parents on
educational expenses e.g school fees poaches
of book etc.
Indirect
Private Costs: Income foregone (opportunity cost) after tax by the individual while
studying on full time basis. Director social costs. All costs incurred by the
government in providing secondary education to its citizens. For example
teaching and non-teaching staff salaries and allowances, expenditures on stationeries etc.
Indirect
Returns / Benefits: All quantifiable and non-quantifiable rewards accruable to
school certificate holders..
Social
Returns/ Benefits: All quantifiable and non quantifiable rewards accruable to
the society were school certificate holder reside and works.
Investment:
Capital committed into acquiring secondary education with a view to profiting
later.
Secondary
Education: The type of education acquired by individual after successful
completing the primary school education.
Age –
earning Profile: Stream of income over
the working life time of the individual.
Wastages:
Extra quantifiable years spent by
secondary school certificate holders before leaving the school.
Productivity:
A measure of economic efficiency which shows how inputs in secondary education
are being converted into output.
Earnings
Foregone: opportunity costs of employment to the individual who chose to engage
in an educational endeavor.
Gross
Domestic Product: Total Value of all
goods and services produced in a country in a particular year.
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