Abstract:
The society is an interconnected web of social institutions; this implies that every
institution depends on the other for its survival and effective functioning and utilization of its resources for societal development. This paper examines the organic relationship between the economy and education. This apart, it proposes means through which the economy can be revamped among which is the utilization of local and indigenous natural resources for an alternative economic development, thereby creating and developing alternative economic resources that will enhance educational accessibility. This paper contends that education doubtless receives a high boost when the economy becomes buoyant and this improves the social status of individuals and the society at large. Lastly, the paper recommends that if the global economic crisis should remain the reason for the low or less funding of education, the social structure will suffer the most
during the recession. Therefore, education should be adequately funded with a view to providing teaching and learning material, conducive teaching and learning environment as well as adequate supervision and inspection of our schools.
