Background to the Study
The significance of education is evident. Education is considered essential to empowerment. Consequently, it is essential to national growth. According to Good (2020), as mentioned in Omegun (2019), education is the sum of all procedures by which a person acquires talents, attitudes, and other types of constructive behavior in the society in which he or she lives. In a same spirit, (Gharavi- Naeeni (2021) asserts that education is the knowledge of how to maximize one’s abilities. In essence, one might state that a person lacks common sense until he or she receives an education. This indicates that without the proper dedication, education is pointless. People who lack the necessary dedication will not be able to take the initiative to apply it, and they will fail. There are formal, non-formal, and informal forms of education. Formal education is provided via the school system. Official education, on the other hand, happens beyond the formal school system and is organized, planned, and methodically constructed with life as its content and distinct forms. Despite being less structured. It is more task- and skill-focused, adaptable, and learner-centric.
The informal education is spontaneous and unplanned. Women and girl child education is a tight articulation of formal, non-formal, and informal education techniques and mechanisms for the full awakening of women’s potential. It is widely acknowledged that quality education is the primary source of human empowerment that eradicates global poverty. With proper education, labor is transformed from unskilled to skilled, increasing its productivity and, by extension, its revenue. Given its evident connection to socioeconomic growth, emphasis has been placed on women’s and girl’s education. The lessons of international instruments and summits such as the Convention on the Elimination of all Forms of Discrimination Against Women (CEDAN) adopted by the United Nations General Assembly in 1979, the Fourth World Conference on Women held in Beijing in 1995, and the recent Beijing + 5 initiative, emphasizing the importance of women’s education, have not been lost on Nigeria’s policymakers and stakeholders. In addition to investing in formal education, the Nigerian government has made efforts to address the education of women via adult and non-formal education. According to Udeani (2018), investing in formal, adult, and non-formal education and training for girls and women, with its very high social and economic return, has shown to be one method for attaining sustained economic growth and development. According to her, women comprise at least half of the population in each given country. No nation can thus afford to exclude this proportion from the crucial formal education process.
In addition, a study of relevant research on women’s education and socioeconomic development confirms the multiplicative impact of women’s education on socioeconomic growth. Education may improve the abilities of female employees, leading to self-employment and a greater quality of life. By strengthening women’s talents, they become more organized and productive. Girls and women are encouraged to become entrepreneurs in small and medium-sized businesses that are ready to take chances and invest in a volatile environment via self-employment. In this instance, it is predicted that women would participate in profitable enterprises and generate profits that will allow them to demand greater wages on the labor market. Access to the achievement of educational credentials must be equalized if more women are to become entrepreneurs, earn high incomes, and occupy positions of authority in organizations. In any event, educated women are able to enjoy a higher level of life and have a greater “voice” in family, community, and societal decision-making (Alele- Williams, 2019; Orisanya-Olumuyiwa, 2018; Snyder, 2020in Udeani, 2018). Critically, she develops the self-worth and confidence necessary for a public existence via schooling (Enemuo, 2020). Moreover, education is essential for occupational achievement, a crucial aspect of socioeconomic position. Several research projects have examined the relationship between women’s education and socioeconomic advancement. There is still a need for more study in this area to determine its relationship to the socioeconomic growth of women’s professional employment or occupations. This study aims to evaluate the importance of education on the socioeconomic growth of female bankers, a topic not previously addressed by research. Education has restricted women’s participation in development. Gender norms in civilizations have relegated women to the home front, limiting them from participating in and benefitting from development activities. This study cites education as an important aspect that will enable women to fulfill their role in nation-building. It is essential to remember that Nigeria scores poorly in terms of development (UNDP, 2015). In order to increase the enrolment, retention, and graduation rates of female students at all levels of formal education, as well as to promote women’s adult and non-formal education, Nigeria has implemented a variety of educational programs.
In addition, seventeen years after launching several formal and adult education programs, it seems that women’s ability to contribute to development is still hindered by their lack of knowledge. The great majority of Nigeria’s population, which consists mostly of women, seems to be afflicted by a high level of poverty, which has led to the pitiful health and education of Nigerian children. This research tries to analyze the relationship between women’s education and socioeconomic growth in light of this knowledge.
Statement of the Problem
Women are not adequately valued and marketable. This is why their efforts are not included in the calculation of the Gross National Product (GNP) (Enemuo, 2020). Women’s ability to contribute to national growth is hindered by a lack of education, according to research. The high prevalence of illiteracy in Nigeria has caused a substantial percentage of women to be unskilled, causing them to choose low-paying jobs for revenue (Adelakun, 2018). As a consequence, they do not participate in decision-making within the family, community, and workplace. According to the Human Development Index (2019) report, the adult literacy rate would reach at least 65 percent by 2015. Consequently, the policy intended to enable women to gain the skills and information that would equip them for the many obstacles. On this regard, this research aims to evaluate the importance of women’s education in Nigeria’s socioeconomic progress. In doing so, select female bankers from GTB in Abeokuta, Ogun state, were chosen.
Objective of the Study
The main objective of this study is to assess the impact of education and socio-economic development of women. However, the specific objectives are to:
To examine if women education and empowerment have significant impact on women enhancement.
To assess whether women education enhances them in decision making capability and mobility.
To find out whether educated women can participate in various income generating activities which can help more in financing families..
To investigate if women education and empowerment contribute to the socioeconomic development of a nation.
The questions that will guide this present study are:
Does women education and empowerment have significant impact on women enhancement?
Does women education enhances them in decision making capability and mobility?
Can educated women participate in various income generating activities which can help more in financing families?
Do women education and empowerment contribute to the socioeconomic development of a nation?
Significance of the Study
This present study is relevant in the true sense that it will help government to systematically and coherently implement the established Beijing Platform for Action directed to the fundamental changes in the situation of women. It will help educational institutions or training centers to have better knowledge of gender sensitive. This study will also increase the momentum for women education in Nigeria. In other words, it will encourage government and stakeholders to increase investment in formal and adult education since investment in education for girls and women has been shown repeatedly to be one of the most important determinants of development, with positive implications for all other measures of progress this present study therefore indentifies and documents the present linkage between women bankers and socioeconomic development since research study in this area has been scanty. This study will help education planners and policy makers to place more emphasis on literacy and primary education in order to fight poverty.
This study will be significant to the academic community as it will contribute to the existing body of knowledge.
Scope of the Study
This study will examine if women education and empowerment have significant impact on women enhancement. The study will also assess whether women education enhances them in decision making capability and mobility. The study will further find out whether educated women can participate in various income generating activities which can help more in financing families. Lastly, the study will investigate if women education and empowerment contribute to the socioeconomic development of a nation. Hence this study will be delimited to GTB Abeokuta, Ogun state.
limitation of the study
Like in every human endeavour, the researchers encountered slight constraints while carrying out the study. Insufficient funds tend to impede the efficiency of the researcher in sourcing for the relevant materials, literature, or information and in the process of data collection (internet, questionnaire, and interview), which is why the researcher resorted to a moderate choice of sample size. More so, the researcher will simultaneously engage in this study with other academic work. As a result, the amount of time spent on research will be reduced.
Definition of terms
Socioeconomic: The individual wellbeing vis a vis their level of income, education and their quality of life.
Development: The ability to make good use or resources available to individual.
Education: Building a complete human being