A Professor of Economics of Education & Educational Planning, Abia State University, *Philip Onuigbo Okunamiri*, has advocated for a comprehensive Educational Planning for the whole Educational system in Nigeria (Formal and Informal), to ensure harmonious evolution of its various parts (Primary, Secondary and Tertiary), as recommended by the United Nations. Professor Okunamiri who disclosed this, while delivering the 29th Inaugural Lecture of the University, on the topic: *”ECONOMICS OF EDUCATION: WHAT HAS NIGERIA MADE OF IT”*, also called on those charged with the responsibility of implementing Educational programmes to be guided by the rules of budget implementation, to avoid misappropriation and misplacement of priorities. He called on the Federal and State Governments to implement the United Nations recommendation of at least 26% of annual budgetary allocation to the Education sector to ameliorate the present neglect being experienced. According to him, Economics of Education is one of the three areas of concentration of Educational Management, namely, Educational Planning, Educational Administration and Economics of Education. ” *Educational Planning*, is a process of preparing a set of decisions about Educational enterprise, in such a way that the goals and objectives of Education will be adequately realized; *Educational Administration*, is the process of implementation or executing what has been planned; while *Economics of Education* involves the application of Economic principles or rules in implementation of the Educational plans to ensure optimum performance of the Educational system”. Professor Okunamiri stated that the Educational Economist also feeds the Government wirh Information on the following phenomena for appropriate planning: 🔸 Occupational structure of the labour force 🔸 The recruitment and promotion practices of employers 🔸 The migration of labour 🔸 The size and distribution of personal income 🔸 The propensity to save out of current income 🔸 The presence of Economic growth. He disclosed the various theories, including the Human Capital formation and the theory of the firm. He highlighted the various ways by which Education promotes Economic growth and National development to include: 🔸 Raises the productivity and income of workers 🔸 Promotes technical changes 🔸 Increases social cohesion, stability and democratic values 🔸 Increases the allocation efficiency by the flexibility and mobility of the labour force 🔸 Expressed in terms of quality of health-care delivery, food, housing, good road network, water etc. On the costs of Education, Professor Okunamiri disclosed that there are two decision makers in Education- the society and the individual, which do not bear the same financial burden. On the benefits from Education, the Lecturer stated that it ranges from the Economic to the Non-economic benefits, to both the society and the individual. “The Economic benefits are derived from increased level of productivity, while the Non-economic benefits cannot easily be quantified and usually take the forms of “neighborhood effect” or “spill-over effect” or the Psychological satisfaction that one derives”. Professor Okunamiri enumerated his contributions to knowledge through the various researches he conducted and made the following recommendations: 🔸 That the private and public sectors, including Parents and Guardians should be involved in funding schools, as Government alone cannot bear the financial burden. 🔸 That Government should integrate Educational planning into the broader Economic and Social Development plans of the country for better results. 🔸 That Educational planning units should be staffed with technocrats and planning facilities. 🔸 That Educational planners should be recruited by Government and Organisations for appropriate advise. 🔸 That Government should ensure accurate census figures for realistic Educational planning. He commended the Vice-Chancellor, *Distinguished Professor E. Uche Ikonne* and Management for the tremendous support to the development of scholarship in the University and for sustaining the Inaugural Lecture series. The Vice-Chancellor and Chairman, *Distinguished Professor E. Uche Ikonne*, appreciated the Lecturer and welcomed him into the *”College of Distinguished Professors”*. Please: Keep safe Play safe. E.U.I- Good Leader, Great Achievements |
