**6. Educational funding on STEM education and TVET**

Globally, education funding is critical to effective training of learners. Education funding has been a perennial issue in Nigeria and pre-dates independent Nigeria. For instance, Okon [9] noted that the Ashby Commission crystallised 'Investment in Education' with projection in the development of Higher Education. Okon further explained that the Commission was not just making proposals but making a programme for educational development that would be massive and expensive. Beyond this, the Federal Government of Nigeria has constantly been on the side of improvement in funding education with policy trust that equally attracts alternative funding. Notably, increased funding of education has been voiced for the development of STEM Education and TVET in Nigeria.

Therefore, funding was captured and accorded a section in the 6th edition of the National Policy on Education (NPE) that was developed and subjected to regular revision to match pace with changing global and indigenous realities occasioned by digital transition and application in virtually all facets of human endeavours. Funding, according to FRN [6], can effectively be addressed through the development and articulation of policies and provided in the 6th edition of the National Policy on Education, involving collective and wide consultation by the Nigeria Educational Research and Development Council (NERDC). This is to ensure that the persistent gaps in education policy provisions and implementation in Nigeria are bridged. The current edition of the Policy highlights emphasise critical areas such as consolidating the 10-year Basic Education in line with Universal Basic Education; emphasis on quality assurance; development of the National Education and Management Information System (NEMIS); improvement strategic planning; teacher quality; and functional collaboration with relevant stakeholders.

In terms of funding, the policy acknowledged that education is capital intensive and requires adequate financial provisions and the need for these stakeholders, especially all tiers of government and private sector to jointly fund education in Nigeria. The Policy acknowledged interventionist programmes from Federal Government agencies such as Universal Basic Education Commission (UBEC); Tertiary Education Trust Fund (TETFund); international donor agencies such as Word Bank, USAID, UNIDO, UNICEF, UNDP, as well as NGOs, among others. Aina [2] asserted that funding is globally critical to sustainable STEM Education. The author further observed that inadequate funding has been a problem of STEM Education in Nigeria, noting that the Nigerian Government has not done enough to make funds available for STEM Education. Aina further reported that most schools are without modern learning resources as a result of inadequate funding, a situation that the author described as creating an appalling learning condition.

Therefore, the quest for improved funding for STEM Education is being voiced by stakeholders within and outside the purview of STEM. According to Adeniran [11], academic experts have called on the government at all levels to allocate special funding for STEM Education in Nigeria as a means to encourage students and boost the working condition of services for academics in the country. In the course of funding STEM Education in Nigeria, the government plays a major role. Therefore, the government at all levels needs to provide a good stimulus for pragmatic science and technology education and equally map out strategies to promote interventionist programmes that attract appropriate special funding for STEM Education and TVET programmes in Nigeria. Lawal [12] acknowledged the importance of STEM Education worldwide and its ability to stimulate development, especially in

developing countries, but observed that Nigeria has little or no investment in STEM Education. Equally, Asaolu [13], in an inaugural lecture, advocated special funding for STEM Education in Nigeria. According to Asaolu, such development is borne out of the need to fasten the rapid industrialisation that Nigeria needs in her quest for national development. Okoli et al. [14] expressed dissatisfaction with the poor funding of TVET, noting that the nonchalant attitude dates back to the colonial days.

Nigeria can leverage collaborations with other economies across the globe. Evidence from the East Asia and Pacific (EAP) can be useful, where training is collaboratively handled by both government and private organisations. In most cases, private organisations identify skills and offer training to members of the immediate communities, thus contributing optimally to the development of the workforce. According to Palmer [15], countries in the region face strong pressures to expand their technical and vocational education and training (TVET) systems and enhance their quality, while also facing spending pressures on basic and higher education, adding that as the demand increases, the need for sustainable financing for TVET becomes more urgent. Furthermore, Palmer argued that this is not only about ensuring that sufficient and predictable revenue streams exist to fund training programmes but perhaps just as importantly about how financing mechanisms themselves can be strongly linked to achieving policy objectives of making TVET systems more accessible, equitable, efficient, demand-driven, responsive and relevant. From the preceding, therefore, the following areas of funding strategies highlighted by Palmer are summarised as follows:


Simply put, Nigeria's experience in education funding requires a paradigm shift. Funding education has remained a frontline issue in Nigeria over the decades. This view is widely reported by scholars and people from other walks of life, including government functionaries who are in a position to reverse the trend. One could sum up such reports by concluding that education is grossly underfunded. This is amidst several sources of funding education, such as reports by researchers. For instance, Nnamdi and Nwite [16] identified sources of funds such as School fees and levies on school children in some states and other monies raised within the school; fund yield ventures such as lunching of school magazines and almanacks, sports' complex, inter-house sports' appeal fund; revenue from agricultural yield and home economics exhibitions; donations from philanthropic individuals; corporate funding from local and international organisations such as World Bank with interest in STEM and TVET funding through school building renovation and rehabilitation and supply of school equipment (science and technology education post-basic project (STEP-B) World Bank Assisted), endowment funds, local community aid through parents and teachers' association (PTA) and some wealthy members of the community; among others.

*Collaboration in Science, Technology, Engineering, Mathematics (Stem) Education… DOI: http://dx.doi.org/10.5772/intechopen.114148*

Education suffers poor funding in Nigeria. Consequently, the slow rate of development it portends to the education system and economic development beckons for a more aggressive and enterprising approach to funding education. It is equally pertinent to advocate for divorce and independent funding of different components in education based on segmentations provided in the National Policy on Education, where Technology and TVET education can be funded independently.

Again, heavy funding of STEM Education and TVET under long-term investment in the next two decades is urgently required. Therefore, the Federal Ministry of Education, in conjunction with State ministries of education, can draw a funding plan for commitments by all tiers of government. Thereafter, the government at all levels should introduce initiatives for private sector engagement and commitment in contributing to the funding of education in Nigeria.

Furthermore, STEM and TVET institutions should map out models for funding sustainability through venture development during the 20 years long-term investment through heavy funding of education by the Government of Nigeria. Venture enterprises by STEM and TVET institutions should take into consideration, and utilise the global business environment through e-business opportunities in a knowledge economy.

Importantly, too, prudence in the management of funds and accountability are necessary qualities school managers must possess. Personnel in charge of appropriating educational funds should be made to account for funds at their disposal, and heavy sanctions should be meted out on defaulters.
