AN INVESTIGATION INTO IMPACT OF EDUCATION AND SOCIO-ECONOMIC DEVELOPMENT OF WOMEN

AN INVESTIGATION INTO IMPACT OF EDUCATION AND SOCIO-ECONOMIC DEVELOPMENT OF WOMEN

CHAPTER ONE

INTRODUCTION

1.1    Background to the Study

The importance of education cannot be overstated. Education is regarded as essential for empowerment. As a result, it is critical to national growth. According to Omegun (2019), education is the sum of all procedures by which a person acquires talents, attitudes, and other types of constructive behavior in the society in which he or she lives, as defined by Good (2020). In the same vein, (Gharavi- Naeeni (2021) claims that education is the understanding of how to maximize one’s abilities. In essence, until a person receives an education, he or she will lack common sense. This shows that education is useless without the proper dedication. People who lack the necessary dedication will be unable to take the initiative to put it into practice and will thus fail.

There are three types of education: formal, non-formal, and informal. The school system provides formal education. Official education, on the other hand, occurs outside of the formal school system and is organized, planned, and methodically constructed with life as its content and distinct forms as its content and distinct forms. Despite the fact that it is less structured. It is more task and skill focused, adaptable, and learner focused.

Informal education is haphazard and unplanned. Women’s and girl child education is a close integration of formal, non-formal, and informal education techniques and mechanisms for fully awakening women’s potential. Quality education is widely acknowledged to be the primary source of human empowerment that eradicates global poverty. Labor is transformed from unskilled to skilled with proper education, increasing productivity and, by extension, revenue. Women’s and girls’ education has received special attention due to its obvious link to socioeconomic growth. The lessons of international instruments and summits such as the United Nations General Assembly’s 1979 Convention on the Elimination of All Forms of Discrimination Against Women (CEDAN), the Fourth World Conference on Women in Beijing in 1995, and the recent Beijing + 5 initiative, emphasizing the importance of women’s education, have not been lost on Nigeria’s policymakers and stakeholders. The Nigerian government has made efforts to address women’s education through adult and non-formal education, in addition to investing in formal education. Investing in formal, adult, and non-formal education and training for girls and women, according to Udeani (2018), has a high social return.

and economic return, has demonstrated to be one method for achieving long-term economic growth and development. Women, she claims, make up at least half of the population in each country. As a result, no nation can afford to exclude this proportion from the critical formal education process.

Furthermore, a review of relevant research on women’s education and socioeconomic development confirms that women’s education has a multiplicative impact on socioeconomic growth. Female employees’ abilities may be improved through education, leading to self-employment and a higher quality of life. Women become more organized and productive as their talents are developed. Girls and women are encouraged to become self-employed entrepreneurs in small and medium-sized businesses who are willing to take risks and invest in a volatile environment. In this case, Women are expected to participate in profitable businesses and generate profits, allowing them to demand higher wages on the labor market. If more women are to become entrepreneurs, earn high incomes, and hold positions of authority in organizations, access to educational credentials must be equalized. In any case, educated women have a higher quality of life and a greater “voice” in family, community, and societal decision-making (Alele- Williams, 2019; Orisanya-Olumuyiwa, 2018; Snyder, 2020in Udeani, 2018). Critically, she gains the self-esteem and confidence required for public life through education (Enemuo, 2020). Furthermore, education is necessary for occupational achievement, which is an important aspect of socioeconomic position. Several research projects have looked into the relationship between women’s education and their economic status. as well as socioeconomic advancement. More research is needed in this area to determine the relationship between women’s professional employment or occupations and socioeconomic growth. This study aims to assess the impact of education on the socioeconomic growth of female bankers, a topic that has not previously been researched. Women’s participation in development has been hampered by education. Gender norms have relegated women to the home front, limiting their ability to participate in and benefit from development activities. According to the study, education is an important factor that will enable women to fulfill their role in nation-building. It is critical to remember that Nigeria ranks low in terms of development (UNDP, 2015). In order to increase female student enrollment, retention, and graduation rates,

Nigeria has implemented a variety of educational programs at all levels of formal education, as well as to promote women’s adult and non-formal education.

Furthermore, seventeen years after the implementation of several formal and adult education programs, it appears that women’s ability to contribute to development is still hampered by a lack of knowledge. The vast majority of Nigeria’s population, primarily women, appears to be impoverished, resulting in pitiful health and education outcomes for Nigerian children. In light of this knowledge, this study attempts to examine the relationship between women’s education and socioeconomic growth.

1.2 Problem Identification

Women are undervalued and unmarketable. This is why their efforts are not included in the Gross National Product (GNP) calculation (Enemuo, 2020). According to research, a lack of education limits women’s ability to contribute to national growth. Because of the high prevalence of illiteracy in Nigeria, a significant percentage of women are unskilled, forcing them to choose low-paying jobs for income (Adelakun, 2018). As a result, they do not participate in family, community, or workplace decision-making. Adult literacy would reach at least 65 percent by 2015, according to the Human Development Index (2019). As a result, the policy aimed to provide women with the skills and information they needed to face the many challenges. In this regard, the purpose of this study is to assess the significance of women’s education in Nigeria.

Progress in socioeconomic terms. Select female bankers from GTB in Abeokuta, Ogun state, were chosen in this manner.

1.3 The Study’s Objective

The primary goal of this research is to assess the impact of education on women’s socioeconomic development. However, the specific goals are as follows:

To investigate whether women’s education and empowerment have a significant impact on women’s enhancement.

To determine whether women’s education improves their decision-making abilities and mobility.

To determine whether educated women can participate in various income-generating activities that can aid in family financing.

To determine whether women’s education and empowerment contribute to a country’s socioeconomic development.

1.4 Research Concerns

The following questions will guide this current study:

Is there a link between women’s education and empowerment?

impact on female enhancement?

Is education beneficial to women’s decision-making abilities and mobility?

Can educated women engage in various income-generating activities that will aid in family financing?

Do women’s education and empowerment contribute to a country’s socioeconomic development?

1.5 Importance of the Research

This current study is relevant in the sense that it will assist the government in systematically and coherently implementing the established Beijing Platform for Action aimed at fundamental changes in women’s situations. It will assist educational institutions or training centers in becoming more gender sensitive. This research will also boost the momentum for women’s education in Nigeria. In other words, it will encourage the government and other stakeholders to increase their investment in formal education.

Since investment in education for girls and women has been shown repeatedly to be one of the most important determinants of development, with positive implications for all other measures of progress, this current study identifies and documents the current link between women bankers and socioeconomic development, as research in this area has been limited. This study will assist education planners and policymakers in emphasizing literacy and primary education as a means of combating poverty.

This research will be important to the academic community because it will add to the existing body of knowledge.

1. 6 Scope of the Research

This research will look into whether women’s education and empowerment have a significant impact on women’s enhancement. The research will

Evaluate whether women’s education improves their decision-making abilities and mobility. The study will also investigate whether educated women can engage in various income-generating activities that can aid in family financing. Finally, the study will look into whether women’s education and empowerment contribute to a country’s socioeconomic development. As a result, the scope of this study will be limited to GTB Abeokuta in Ogun State.

1.7 The study’s limitations

The researchers encountered minor constraints while conducting the study, as with any human endeavor. Inadequate funds tend to impede the researcher’s efficiency in locating relevant materials, literature, or information, as well as in the data collection process (internet, questionnaire, and interview), which is why the researcher made a conservative choice.

of sample size. Furthermore, the researcher will conduct this study alongside other academic work. As a result, the time spent researching will be reduced.

1.8 Glossary of Terms

Socioeconomic: An individual’s well-being in terms of income, education, and quality of life.

Individual development is the ability to make good use of the resources that are available to them.

Education: Creating a Whole Person