HIGH COST OF LIVING AND ITS EFFECTS ON THE LEARNING OUTCOMES OF TERTIARY INSTITUTIONS IN NIGERIA (A CASE STUDY OF ADENIRAN OGUNSANYA COLLEGE OF EDUCATION, OTTO/IJANIKIN)
It is not an exaggeration that the high cost of living is affecting students of higher education institutions physically, mentally, emotionally and above all academically. To this end, this research study tends to examine the high cost of living and its effects on the learning outcomes of tertiary institutions in Nigeria; A case study of Adeniran Ogunsanya College of Education, Oto/Ijanikin. In an attempt at achieving effective study, review of relevant and related literature was carried out, research questions were raised and hypotheses formulated. The findings of the study revealed that the effects of high cost of living are numerous on the students of tertiary institutions. Thus, an attempt was therefore made at suggesting some recommendation at reducing the effect, if not totally eradicated.
TABLE OF CONTENT
Title Page i
Table of Content v
1.0 Introduction 1
1.1 Background to the study 1
1.2 Statement of the Problem 3
1.3 Purpose of the Study 3
1.4 Research Questions 4
1.5 Research Hypothesis 5
1.6 Significance of the Study 5
1.7 Scope and Limitation of the Study 5
1.8 Definition of Terms 6
2.0 Review of Related Literature 7
2.1 Concept of cost of living 7
2.2 Causes of High Cost of Living 14
2.3 Effects of High Cost of Living on learning outcomes
of students 17
2.4 Solutions to the problem 19
3.0 Research Methodology 21
3.1 Research Design 21
3.2 Population of the Study 21
3.3 Sample and Sampling Technique 21
3.4 Research Instrument 22
3.5 Reliability and Validation of the Instrument 22
3.6 Procedure for Data Collection 23
3.7 Procedure for Data Analysis 23
4.0 Presentation and Analysis of Data 24
4.1 Presentation of Data 24
4.2 Discussion of Findings 28
5.0 Summary, Conclusion and Recommendation 34
5.1 Summary 34
5.2 Conclusion 35
5.3 Recommendation 36
1.1 BACKGROUND TO THE STUDY
Education is the fastest growing social sector of the Nigerian economy, at least, in quantitative terms; of course, while the quantity of education increased dramatically, the quality nose- dived to an unprecedented level, his of course is due to one basic fact, this is as a result of the high cost of living, simply put, high level of poverty in the society.
High cost of living is one of the social phenomenon that is living with us today. No matter how we try, it is still there, increasing by the day, thus, invariably affecting everybody, students inclusive. Cost of living can be defined as the responsiveness of an individual to the corresponding price paid for existence.
The rising cost of living has been a serious problem to most developing nations and in fact, Nigeria is no exception, however for the purpose of this study, we would limit it to the students of higher institution, especially the students of Adeniran Ogunsanya College of Education (AOCOED), Igando Center, Alimosho Local Government Area.
The students of higher institutions are seen as the bedrock of the Nigeria’s future economic, social and political growth, they are trained to acquire vocations that will promote the general well being of the Nigerian nation and give us a desired respect in the committee of nations. It therefore becomes pertinent that any problem encountered by this group of Nigerians is a problem the nation must not under-score, irrespective of the form of the problem. This is because at crucial moment of our history, we must depend on their intelligence for the much needed awareness and service to motherland.
Educational achievement might fall if we do not address this issue and also the problem might escape to an unbearable situation. For instance, the rising cost of living has led to an increase in virtually all sector of the economy, and this has directly affected the standard of living of the masses, and the level of academic performance of the student in particular, which might resulted in the aforementioned consequences.
An in-depth knowledge of the economic situation of Lagos State would make one to conclude that the skyrocketing nature of cost of living definitely affect virtually every individual, especially the parents of the students, and this is extended to the students, which invariably has a significant effect on their educational attainment
Cost or living among the students of Adeniran Ogunsanya College of Education can be identified or associated with a lot of areas, and these areas are in form of housing, food and meeting their academic and other extraneous expenses. The above items identified does not suggest that those are the areas in which cost of living is based, there are still some subsidiary problems associated with cost of living definitely there are other needs the students might want to meet especially as they progress in their academic pursuit. Consequently, the students here have been found to be having some problem, which was as a result of high cost of living, especially economic problem which incidentally could not be regarded as non-contributor to other problems being faced on their academic affairs.
1.2 STATEMENT OF THE PROBLEM
Students of higher institutions, especially AOCOED, all aspire to achieve some sort of fulfillment in life but problems (cost of living) which exist in the society is beclouding such aspirations and goals. It therefore becomes pertinent to raise some major questions such as: Dogs high cost of living has any relationship with the academic performance of students of AOCOED? What is the effect of the socio-economic background of students of AOCOED and the prevailing high cost of living be attributed to problems of academic performance among the students? Are there any correlation between other factors responsible for high cost of living and the students’ academic performance? The above questions will help shed more light on the fact that whether high cost of living has any impact on academic attainment.
1.3 PURPOSE OF THE STUDY
The main purposes of the study are:
- To find out the various causes of rise in cost of living.
- To examine the effects of high cost of living on students academic performance in AOCOED.
- To suggest ways by which students, if not totally overcome the problem, could reduce its negative impact on their pursuit of academic excellence.
- The result of the study will be of vital use to parents, guardians and the government in enhancing academic performance of students’ throughout the country and Lagos State in particular, especially students of Adeniran Ogunsanya College of Education.
1.4 RESEARCH QUESTIONS
The following research questions were raised for effective investigation to be embarked upon:
- Is there any relationship between the high cost of living and the academic performance of the students of Adeniran Ogunsanya College of Education?
- Can the socio-economic background of students of AOCOED and the high cost of living be attributed to problem?
- What is the effect of lack of social amenities on the academic performance of AOCOED students.
- What is the relationship between the problems being faced by students and their academic performance in AOCOED?
- RESEARCH HYPOTHESIS
- There is no significant relationship between the high cost of living and academic performance of students of AOCOED.
- There is no significant relationship between the socio-economic background of AOCOED students and their learning outcomes.
- There is no significant relationship between the non-availability of social amenities in the community in which AOCOED students’ lives and students’ academic achievement.
1.6 SIGNIFICANCE OF THE STUDY
This research study is significant for quite a lot of reasons. This study hopes to highlight for the society the causes of the rise in cost of living. Similarly, it exposes to the society the effect of rise in cost of living and the consequences of the effect not only to individual, but the society at large.
Furthermore, it is important because of the fact that the research study is out to save the country from the plague that comes with rise in cost of living, because as long as this problem exist then the issue (rise in cost of living) will, remain part of our way of life, but this is the notion the study is out to correct.
1.7 THE SCOPE AND LIMITATION OF THE STUDY
Due to financial problems and time factor, the scope of the study has been restricted to Adeniran Ogunsanya College of Education. We chose to relate the rise in cost of living in the society to the academic performance of AOCOED students because there have been a lot of complaints on the part of the students of this college (AOCOED) on the uncontrollable constant rising cost of living in the society, which have an effect on their pursuit for academic excellence. For this reason, we wanted to try as much as possible to carry out findings in this area and see if the problems under focus can be reduced or eliminated.
1.8 DEFINITIONS OF TERMS
Cost of living: it is the responsiveness of an individual to the corresponding price paid for existence.
Academic Performance: This refers to the rate of success in an examination.
Intelligentsia: this refers to the intelligence quotient (I.Q.) of an individual student.
Skyrocketing: It Implies increase or upward movement.
Educational Policy: A formulated substantive goals and objective, the procedures and devices for achieving and evaluating the set target in education.
College of Education: A tertiary institution saddled with the responsibility of training teachers and awarding of Nigerian Certificate in Education (N.C.E).
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