RELATIONSHIP BETWEEN EDUCATION AND SOCIO-ECONOMIC DEVELOPMENT
ABSTRACT
The purpose of this study was to look into the effects of socioeconomic status on student performance in commerce in educational district II in Lagos State’s Shomolu Local Government Area. The study-related and relevant literature was reviewed in this study.
In addition, the survey research design was used to assess the respondents’ opinions through the use of a questionnaire. This study enlisted the help of 200 (two hundred) students from five different schools. The mean was used to analyze the bio-data and research questions.
The following outcomes were obtained at the conclusion of the analysis: In Senior Secondary Schools, there is a significant difference between parental socioeconomic status and students’ academic performance, and there is a significant relationship between parental educational background and student academic performance.
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
The significance of education is undeniable. Education is regarded as the most important factor in achieving empowerment. As a result, it is the key to national development. According to Good (1993), as cited in Omegun (2004), education is the sum of all the processes through which a person develops his or her abilities, attitudes, and other forms of positive behavior in the society in which he or she lives.
In a similar vein, (Gharavi- Naeeni (2010) states that education is the knowledge of how to maximize one’s potentials. In essence, one can simply state that a human being lacks proper sense until he or she is educated. This means that without the proper commitment, all education is pointless.
People who do not have the necessary commitment will not be able to take the initiative to put it into action, and thus will not be successful.
Formal, non-formal, and informal education are all options. Formal education is provided through the school system. It is organized, planned, and systematically structured with life as its content and definite forms on the other hand, formal education occurs outside of the formal school system.
Despite being less structured. It is more task- and skill-oriented, as well as more flexible and learner-centered.
The informal education is impromptu and unplanned. The education of women and girls is a close articulation of formal, non-formal, and informal education approaches to and mechanisms for the awakening of women’s potential.
It has long been recognized that high-quality education is the most important source of human empowerment for eradicating poverty on a global scale. With proper education, labor is transformed from unskilled to skilled, increasing productivity and, by extension, the income earned by labor.
Women’s and girls’ child education has received special attention, with a clear link to socioeconomic development. The lessons of international instruments and summits, such as the Convention on the Elimination of All Forms of
Discrimination Against Women (CEDAN) adopted by the United Nations General Assembly in 1979, the Fourth World Conference on Women held in Beijing in 1995, and the recent Beijing + 5 initiative, emphasizing the importance of women’s education, have not been lost on policymakers and stakeholders in Nigeria.
In addition to investing in formal education, the Federal Government of Nigeria has made efforts in adult and non-formal education to address women’s education. As Udeani (2004) correctly points out, investing in formal, adult,
and non-formal education and training for girls and women has proven to be one of the most effective ways of achieving long-term economic growth and development. According to her, women constitute roughly half or more of the population of any given country. As a result, no country can afford to exclude this percentage from the critical process of formal education.
Furthermore, a review of related literature on women’s education and development unequivocally confirmed the multiplying effect of women’s education on socioeconomic development. Women’s skills can be enhanced through education as workers create self-employment and promote higher living standards.
Women become more orderly and productive as their skills are improved. Self-employment encourages female and female entrepreneurs to establish themselves in small and medium-sized businesses that are willing to take risks and invest in a volatile environment. In this case, women are expected to start viable businesses and earn incomes that will allow them to compete for higher-paying jobs in the labor market.
Access to and attainment of educational qualifications must be equalized if more women are to be entrepreneurs, earn high incomes, and work at the highest levels of organizations. In any case, educated women can enjoy a high standard of living and have a greater “voice” in family, community, workplace, and societal decision-making (Alele- Williams, 1986; Orisanya-Olumuyiwa, 2000; Snyder, 2000 in Udeani, 2004).
More importantly, education provides her with the self-esteem and confidence she needs for public life (Enemuo, 2001). Furthermore, education is critical for occupational attainment, which is a critical component of socioeconomic status.
Several research studies on women’s education and its relationship to socioeconomic development have been conducted. More research is required in this area to determine its relationship to the socioeconomic development of women’s professional jobs or occupations. The current research study aims to assess the contribution of education to the socioeconomic development of female bankers in areas where research studies appear to be lacking.
Women’s participation in development has been hampered by a lack of education. Gender roles in society have relegated women to the home front, preventing them from participating in and benefiting from development efforts.
The current research study identifies education as a critical factor that will assist women in playing their role in the nation’s construction. It is worth noting that Nigeria ranks low in terms of development (UNDP, 1996).
As a result, Nigeria has launched a slew of educational initiatives aimed at increasing girl child enrollment, retention, and completion at all levels of formal education, as well as establishing programs to promote women’s adult non-formal education.
Furthermore, seventeen years after embarking on numerous educational programs in both formal and adult education, it appears that a low level of education still affects women’s ability to contribute to development. The vast
majority of Nigerians, primarily women, appear to be affected by a high level of poverty, which has resulted in the pitiable condition of the Nigerian child in terms of health and education. In light of this information, the current study seeks to investigate the relationship between women’s education and socioeconomic development.
1.2 Problem Description
Women are not adequately monetized or marketable. As a result, their efforts are not accounted for in the calculation of the Gross National Product (GNP) (Enemuo, 2001). One of the factors affecting women’s ability to contribute to national development has been identified as a lack of education.
Because of Nigeria’s high rate of illiteracy, a sizable number of women are unskilled, and as a result, they resort to low-wage jobs (Adelakun, 2011), resulting in income. As a result, they are unable to participate in family, community, and workplace decision-making.
According to the Human Development Index (2010), an adult literacy rate of at least 65 percent would be achieved by 2015. As a result, the strategy aimed to empower women to acquire the skills and knowledge that would prepare them for the vast challenges that lay ahead.
In this vein, this study seeks to assess the role of women in education, social development, and economic development in Nigeria. In doing so, the researcher used some selected women bankers from Assess Bank, First Bank, United Bank of Africa, and Wema Bank at the University of Lagos, Akoka to determine the contribution of education to their occupational attainment, income generation, promotion, and self-worth.
1.3 The Study’s Purpose
The primary goal of this research is to assess the role of education in the socioeconomic development of female bankers. However, the specific goals are as follows:
1. Investigate the relationship between education and women’s occupational attainment.
2. Examine the relationship between education, high-paying professional jobs for women, and improved quality of life.
3. Investigate the relationship between education and women’s advancement in their communities and workplaces.
4. Examine the relationship between education and improving women’s self-esteem and personality.
1.4 Research Issues
The following questions will guide this current study:
1. Does education aid women’s employment in high-paying jobs?
2. Do skilled women earn more and have a higher standard of living than unskilled women?
3. Will education improve women bankers’ ability to advance to important positions in their communities and workplaces?
4. Is education related to increasing women’s self-worth and confidence in public life?
1.5 The Theories
The following hypotheses have been developed for this study:
1. There will be no statistically significant link between education and women obtaining well-paying jobs.
2. There will be no significant relationship between a low level of education and women receiving a high income and a better quality of life as a result of their low pay in the bank.
3. There will be no significant relationship between education and increasing women’s ability to become bank managers.
4. There will be no significant relationship between education and women bankers’ socioeconomic development.
1.6 Importance of the Research
This current study is significant in the sense that it will assist the government in systematically and coherently implementing the established Beijing Platform for Action aimed at bringing about fundamental changes in the status of women. It will assist educational institutions or training centers in gaining a better understanding of gender-sensitive issues.
This research will also boost the momentum for women’s education in Nigeria. In other words, it will encourage the government and stakeholders to increase investment in formal and adult education, because investment in education for girls and women has been repeatedly shown to be one of the most important determinants of development, with positive implications for all other measures of progress.
As a result, given the scarcity of research in this area, the current study identifies and documents the current link between women bankers and socioeconomic development. This study will assist education planners and policymakers in emphasizing literacy and primary education as a means of combating poverty.
This study will have to benefit society because educating women has positive externalities. This proposed research will also add to the existing body of knowledge.
1.7 Study Scope and Limitations
This research study examines the role of education in the socioeconomic development of selected female bankers in the Lagos Mainland Local Government Area, which the previous study did not appear to cover.
This study will include 60 male and 60 female bankers from the Wema Bank, Access Bank, First Bank, and UBA branches at the University of Lagos, Akoka. This is due to a lack of resources on the part of the researcher to conduct the study using all banks in the Lagos Mainland Local Government Area.
1.8 Empowerment: Moving from a naive to a more critical state of consciousness.
Individual well-being in terms of income, education, and quality of life is referred to as socioeconomic well-being.
Individual development is the ability to make good use of the resources that are available to them.
Education is the process of forming a complete human being.
Adult Education: Learning activities centered on the expression of people aged 18 and up who are not attending school on a regular basis, or who have completed compulsory education or other learning that enhances their self-worth over the course of their lives.
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RELATIONSHIP BETWEEN EDUCATION AND SOCIO-ECONOMIC DEVELOPMENT
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