Relationships between Institutional Development and Sustainable-Economic Development in Nigeria: Issues, Challenges and Way Forward

Abstract

Education system over decades has been a producer of sophisticated weapons that kept on igniting the fire lamp of the economy and national development of any country. The system has librated human from crude ways of life to an advanced one. Therefore the place of education in the socio-economic development of any country cannot be overlooked. An educated man is an expensive machine that has successfully passes through the stages of unknown to known, and he is now able to solve rising problems in his day to day activities with the influence of past experiences. In the like of this, institutions where the educated man is been produced is to be properly managed with all necessary things put in place in order to ensure there is development in the sector and the development should be able to enhance the socio-economic development of a country. This paper reveals the concepts of institutional development, challenges and impacts on the sustainable development of the economy of Nigeria.

Keywords: Institution, Institutional Development, Sustainable Development, Sustainable-Economic Development