Year: 2026
Type: article
Abstract: Introduction: The effect of government bonds on education financing in Nigeria is examined in this study. Methodology: Secondary data, curled from Central Bank of Nigeria Statistical Bulletin, was analysed to explain the relationship within a timeframe of 44-years (1981-2024). While descriptive statistics were used to describe features of the series, ADF and Phillip-Perron tests helped to examine their order of stationarity. This study utilizes a system Generalized method of moments estimation technique. Results: The results show that lag of government spending on education, government bonds and inflation rate are statistically significant in explaining government spending on education. Interest rate notedly has negative influence on government spending on education in Nigeria. Conclusion: There is a need for prioritization of bond-financed education projects, trailed for assurance of long-term returns. The need for maintenance of credible inflation-targeting framework that tightens monetary stance cannot be overemphasized. These ensure fiscal prudence and guide against the erosion of public spending. JEL Classification: H25, H52, 68, I22.
Authors: Hakeem O. Onifade, Najeem O. Bashir
Institution: Crescent University
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
SDG: Quality education
Open Access status: hybrid
OpenAlex ID: W7223100749