FEDERAL GOVERNMENT FINANCIAL ALLOCATION PLANNING AND ITS CONTROL IN AN EDUCATIONAL INSTITUTION (A CASE STUDY OF AKWA IBOM POLYTECHNIC)

ABSTRACT

This study examines the Federal Government financial allocation, planning and its control in an educational institution. It is aimed at proffering solutions to the challenges of allocation of funds in educational institutions. The questionnaire was used to record respondents’ responses. This is because it is effective in data collection. It was discovered that insufficient student welfare makes it difficult for some students to achieve their aims and objectives. It is also recommended that budget allocation for staff training and development should be enhanced as a tool for motivation.

CHAPTER ONE

INTRODUCTION

1.1. BACKGROUND TO THE STUDY

Higher educationalinstitutions especially in Nigeria are known for insufficient allocation of resources from government/stakeholder that set them up and other resources centres. In most instances, management of these institution fall challenges of having to apply in adequate resources to meeting the multi-dimensional objectives in producing good output. This has always been a serious process.

This therefore necessitate the need to draw policies that will help in the management of this facilities. Consequently there is a need to also evaluate these policies and its management in order to known its efficiency.

1.2. STATEMENT OF THE PROBLEM

The roles and high educational institutions in achieving national objectives can best be expressed as a series of tasks wich must be fulfilled.

They cannot be accomplished over night. These tasks are described as:

Passing on the heritage of the past.

• When a child is born he begins a new personal existence, but he also joins an old established society. One of the roles institutions plays is to pass on to him the knowledge is very great. The present generation is deeply indebted to past generation for all past discoveries, inventions and accumulated experiences that have been handed down to them. Civilization would cease to exist if every the heritage of the past were with held from present.

In the past this heritage was past on through the family or by contact between individuals.

Today, the increased volume of knowledge and greater number of people acquiring it, requires extra schools in form of private institutions organized by individual and bodies.

Preparing for the future

• To prepare pupils for living in the modern society, higher institutions must prepare individuals spirit, mind and body. Decent behaviour must be instilled, useful skills and healthy activities of the mind encouraged. These three things are necessary not just preparing the children for earning a living, but for coping with the problems of the society which they will soon find themselves as adult members and also putting purpose into living.
• Education gives a satisfying purpose for all we lean and it keeps us from living a life that is purposeless and help us to show the people we teach that our labours in teaching them and their efforts at learning after for a better purpose than just making them skilled, but will help them to become man and woman of real understanding.
• Higher institutions need to convince their pupils and student that life has purpose and education is worth while.

Training the Labour Force

• Higher institution help the nation in developing low, middle and high level man power necessary for economic development. These higher institutions train a significant number of the country’s labour force such as technicians, accountants, confidential secretaries, typists etc.
• The top management cannot function properly without the support of these categories of the labour force. They are like the foundation on which a building rests. The wheel of economic progress will not move without the support of these categories of labour force trained by higher institutions.

Without adequate funds, these tasks or objectives cannot be accomplished. The institution runs various courses both at certificate, national and higher national diploma levels.

Good financial allocation and control are needed to ensure the success of the courses offered.

Financial allocation is needed for planning the scarce resource of the institution, while control ensures that the action of the institution management move to towards the stated objectives.Akwa IbomPolytechnic has important roles to play in developing the management needed in the country, but this role can be severely limited if the institution is not adequately funded.

• The problem we wish to investigate is adequate finance being provided to higher educational institutions such as Akwa IbomPolytechnicin achieving these tasks.

1.3. OBJECTIVES OF THE STUDY

The objectives of the study are:

1. To examine the federal government financial allocation and planning and its control in an educational institutional account.
2. To identify out the activities of federal government financial allocation and planning and its control in an educational institutions account.
3. To identify the problem of activities of federal government financial allocation and planning and its control in an educational institutions accounts.
4. To identify the possible solution in the problem of activities of federal government financial allocation and planning and its control in an educational institutional accounts.

1.4. RESEARCH QUESTIONS

1. What are the federal government financial allocation and planning and its control in an educational allocation?
2. What are the activities of federal government financial allocation and planning and its control in an educational institution?
3. What are the problem of federal government, financial allocation and planning and its control in an educational institution accounts?
4. What are the possible solutions to he identified problem in federal government financial planning allocation and its control in an educational institution accounts?

1.5. SIGNIFICANCE OF THE STUDY 

The findings of this study will be of immense benefit to the polytechnics. In other words, the staff, graduating student and those who want to study in the Akwa IbomPolytechnicand so on.

It will also benefit the recently proposed polytechnic commission, (NBTE) National Board for Technical Education, (WAEC) West African Examination Council, (NECO) National Examination Council, (JAMB) Joint Admission and Matriculation Board and other examination bodies.

• An efficient manpower development programme will enhance staff motivation towards acquiring additional qualifications. This in turn will contribute immeasurably towards the overall attainment of the Akwa IbomPolytechnic objectives.
• Accordingly, this research work will be of benefit to these groups in the following ways.
• It will assist the management of Akwa IbomPolytechnic in updating it manpower development programmes towards meeting the present day realities.
• It will assist the polytechnic with useful information and guide in the area of utilizing its human resources in the best possible ways.
• It will further enhance the quality of the products from Akwa IbomPolytechnic in terms of its graduates.This is so because the quality of manpower in any given organization determines the quality of its output.
• The employers of labour will benefit tremendously from the enhanced quality of graduates of that will be available for employment.
• The academic staff that will have their confidence enhanced and their morale boasted.
• The findings of the research work will also benefit a great deal the ministry of science and technology, ministry of educational and the federal government of Nigeria, and all planning and designing special educational and promotional programmes for NigerianPolytechnics.

1.6. SCOPE AND DELIMITATION

The term study examines the federal governments financial allocation and planning and its control in an educational institution account. An examination on how the activities of federal governments financial allocation affect the planning and control in Akwa IbomPolytechnic account.

The study equally covers in-depth and possible problem that would be militating against the effectiveness of federal government financial allocation on educational institution account. The research work is rested to Akwa IbomPolytechnic in Akwa Ibomnorth local government area not positively correlated with the number of students in the institutions.

1.7. DEFINITIONS OF TERMS

(NBTE): National Board for Technical Education.

(WAEC): West African Examination Council

(NECO): National Examination Council

(JAMB): Joint Admission and Matriculation Board

Polytechnic institution: A technical school offering instruction in many industrial arts and applied sciences.

• : School providing instructions in many scientific and technical subjects.

Adequate Financial Resources: Refers to the state where a person or an organization is in position of financial adequacy.

Financial Planning: In general usage a financial plan can be a budget, a plan for spending and saving future income.

1.8. SUMMARY

This study is restricted to the growth of Nigerian federal government and also in Akwa IbomPolytechnicin students’ population, courses offered, fundings, educational institutions of its planning and control in Nigeria.