IMPEDIMENTS TO EFFECTIVE UTILIZATION OF FUNDS IN TERTIARY INSTITUTIONS IN ENUGU STATE

IMPEDIMENTS TO EFFECTIVE UTILIZATION OF FUNDS IN TERTIARY INSTITUTIONS IN ENUGU STATE

ABSTRACT

This study anchored on the impediments to effective utilization of funds in tertiary institutions in Enugu state. The study employed a descriptive survey design. Four research questions and two null hypotheses guided the study. The population of the study comprised all the 15 deans and 74 HODs of public tertiary institutions in the area of the study. No sample was used due to the small size of the population. Questionnaire titled Impediments to Effective Utilization of Funds in Tertiary Institutions Questionnaire (IEUFTI) was used as instrument for data collection. Mean and Standard Deviation were used to answer the research questions, while t-test statistics was used to test the null hypotheses at 0.05 level of significance. The result of the study among others showed that inadequate allocation of funds to education sector impedes to a great extent the effective utilization of funds in tertiary institution. However, the finding of the study further revealed that misappropriation of funds impedes the effective utilization of funds in tertiary institutions to a low extent. The study among others recommended that the various state and federal government should provide enough funds for education. Heads of tertiary institutions should not mismanage or embezzle funds entrusted into their care. Federal and state ministries of education, parastatals and their agencies should ensure that there are adequate information and accurate statistical data in their offices.