Financing University Education for Sustainability in Finland: Lesson for Nigeria

Abstract

University Education is very crucial in the development of the society. In Finland, it is one of the best in the world due to government huge investment on the project. Official government statistics indicated that the country has 100% literacy rate, whereas Nigeria has 59.57%. Based on the assertion, the study unpacks funds injected into the system by Finnish’s government. Two research questions were developed to guide to study. Furthermore, mixed methods research approach was deployed in the study. In line with mixed method adopted in the study, the researcher would obtain funds spent between 2015 and 2025 from the Ministry of Education 
and Culture. Similarly, ten officials were purposively selected for structure interview. The table indicating how fund was budgeted and expended from the period under investigation and thematic analysis were used. Findings indicated that Finnish government invested a lot of funds on university education. Additionally, it was established that the huge financial investment in university education has 
resulted in economic, scientific and technological sustainability in the country. It was recommended among others that Nigeria government should adopt Finnish approach in financing university education for economic, scientific and technological sustainability.