An Empirical Analysis of Budgetary Allocation to Education and Poverty in Nigeria: (A Comparative Study)

Abstract

The study investigated the Comparative Analysis of Budgetary Allocation to Education and Poverty in Nigerian from 1980-2015. The objective of the study was to comparatively analyze the relative impact of federal government actual budgetary allocation to education alongside UNESCO 26% recommended budgetary allocation to education. In respect to the above, relevant theoretical and empirical literature were reviewed. The researcher formulated the relevant objective research question hypothesis to guide the study. In the course of the study, relevant data relating to the variables needed by the researcher were extracted from various document analysis such as Central Bank of Nigeria (CBN) Statistical Bulletin and National Bureau of Statistics (NBS) Statistical Bulletin. The Classical Linear Regression Model was employed in modelling the relationship between poverty and the budgetary allocation variables. The Ordinary Least Square (OLS) equation technique was used in analyzing the data.