FINANCING TECHNICAL VOCATIONAL EDUCATION AND TRAINING FOR POST-OIL BOOM ECONOMY: A CATALYST FOR SUSTAINABLE RURAL DEVELOPMENT

Abstract

This paper discusses the significance of Financing Technical and Vocational Education and Training (TVET), for Post-Oil Boom Economy as a Catalyst for Sustainable Rural Development in Nigeria as well as the role of TVET in putting away poverty in rural areas. TVET was seen as a tool for addressing economic and socio -political crises, fighting insecurity, massive youth development, self-reliance and self-efficacy and tool for sustainable development in Nigeria. Importance of TVET to Nigerian development and the financial stand on post-oil boom economy was addressed and ways which should be used to finance TVET education was discussed. Constraints in achieving effective TVET, sources of financing TVET programmes, the roles of government and non-governmental organisation and implementation of TVET for rural development were also highlighted. It was recommended amongst others that TVET institutions in the rural areas should be adequately funded in order to enhance skill acquisition programmes as well as improving the economic and social life of the rural people.