Optimizing Oil And Gas Revenues For Sustainable Education In Nigeria: A Strategic Policy For Long-Term Development
DOI:
https://doi.org/10.58355/dirosat.v4i2.217Keywords:
Long-term Development, Oil and Gas, Revenues, Strategic Policy, Sustainable EducationAbstract
The paper examines the optimizing oil and gas revenues for sustainable education in Nigeria: a strategic policy for long-term development. The paper adopted Resource cure theory, the paper discussed the historical overview of oil and gas in Nigeria, policies for managing oil and gas in Nigeria. The paper discussed Challenges of Revenue Management in Oil and Gas of Nigeria, Concept of Sustainable Development in Nigeria, Role of Oil and Gas for Sustainable Development in Nigeria, Role of Sustainable Development Goals to Education in Nigeria, and the challenges of educational development in Nigeria. The paper further discussed Mechanism for Channeling Oil and Gas Revenue into Educational Sector in Nigeria, and the Long-Term Strategic Investment of Oil and Gas in Education in Nigeria. The paper concluded that Nigeria can address fundamental challenges such as poor infrastructure, limited access to quality education, and the skills gap in its workforce. A well-educated population is essential for fostering innovation, driving economic diversification, and achieving sustainable development. The paper recommended among others that, Government and oil companies should introduce robust systems for tracking and reporting the allocation and utilization of oil and gas revenues, with a focus on ensuring that funds earmarked for education are used efficiently and effectively, encourage partnerships between the government, private sector, and international organizations to enhance investment in education
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