Inflation and Infrastructural Facilities Development in Universities in Nigeria

Abstract

University education is an education designed for training enhancement and building a human capacity base of an individual through the development of cognitive, psycho-motor and affective powers that will enable the individual to fit in and function optimally in society. The university education system is like every other system that is affected by the economic trend of inflation. Inflation is a global economic problem that affects both private and public institutions. This paper analyzed the impact of inflation on infrastructure facilities development in Nigerian universities. Secondary data were used in the paper. The secondary data were collected from online publications and print resources. The paper established that delays in project implementation, poor project financing, poor facility maintenance and project Abandonment are the impacts of inflation on infrastructure facilities development in Nigerian universities. Based on the findings, the paper recommended that the federal should come out with measures to address inflation by reducing taxes, increasing local production and encouraging more investment in the country.