Innovative Strategies for Funding Education for Sustainable Development Goal Four in Nigeria

Abstract

Funding education for sustainable development goal four in Nigeria was viewed in terms of what sustainable options for funding education are to be adopted. Innovation is the process of translating ideas into a good or service that creates value for which customer will pay. Also, educational innovation refers to new ideas, technologies, policies, activities and knowledge introduced into the educational system to ensure greater efficiency and effectiveness for quality service delivery. Sustainable development refers to the development that meets the needs of the present without compromising the ability of future generations to meet their own development needs. Sustainable development goal four (SDG4) is geared towards all inclusive and equitable quality education and promotion of life-long learning opportunities for all. The study therefore viewed the objectives of sustainable development goal four (SDG4) which include amongst others, by 2030, to ensure that all girls and boys complete free, equitable and quality primary and secondary education leading to relevant and effective learning outcomes. The study also analyzed innovative strategies which are considered as ways of resourceful funding of education in Nigeria as income generating strategy, cost saving strategy, macro-economic strategy and partial deregulation of the education sub sector. The study concluded that, in order to generate more funds, there is need to introduce macro-economic strategy where the government needs to diversify to other sectors of the economy. The study suggested amongst others that government should recognize basic education as a public good and therefore, accept the responsibility of providing it free for all citizens.