International records / African Development Bank

Working Paper 92 - Education Expenditures and School Enrolment in Africa: Illustrations from Nigeria and Other SANE Countries

There is increasing empirical evidence that education matters, not only for the personal development, health status, social inclusion and labour market prospects of individual learners, but also for the broader economic performance of countries (OECD/UIS, 2003; 2006). As the world has entered the age of the knowledge economy, education and human capital generally play a critical role in driving economic growth in both the world’s most advanced economies and the emerging economies that are currently experiencing profound transformations and periods of rapid growth and development.