CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
This research work titled Social Adjustment and Expenditure Pattern among the students of Institute of Management and Technology (IMT), Enugu will slightly take our minds back to the parameter and yard stick for proper and genuine development of a Nation, especially Nigeria to be precise.
Luca Dacioli in this testier says that “frequent of counting make for a casting friendship”. This goes along to explaining how they go about expending the money they have to their basic scholastic necessities.
The principal institutions met horizon for developing human skills and knowledge at the highest level is the polytechnic system. It follows therefore that any government effort for economic development should be duty bound, to give priority to polytechnic education has been highly.
In Nigeria, education has been highly emphasized by both State and Federal government. The existence of eleven (11) Federal and twenty-one (21) State polytechnics as at the early 90’s is a clear manifestation of this emphasis on high level manpower, among other factors have given rise to the increased demand for polytechnic education. This increased demand reached climax with the setting up of the Joint Admission and works Eow Board (JAMB) for polytechnics. This works towards the goal of increased students intake.
This development idea been rested on human resources instead of capital material resources is amplified by HARRISON (1973, p. 3) who said “human beings are agents who accumulate capital exploit, natural resources, build social economic and political organization and CARRY FORWARD NATIONAL development although, the Federal government through their various laudable establishment like (JAMB POLY) etc. Anticipated the expansion of polytechnics but is unfortunate that there is no commensurable increase in the sum of money allocated to polytechnics and student Financial. For example, a close look at the allocation for the student Financing in the third national Development summary reveals that a total sum of N60 million only was allocated to undergraduates bursary.
Each plan year too a stipend amount of N2 million is allocated to polytechnics unless there is a change recently because of the democratic anticipated platform. Down to the level as well, the state provides equal benefit for each plan year, without considering the increase in total enrolment each year.
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