FINANCING HIGHER EDUCATION IN NIGERIA
Rowell E. Ubogu
Journal Title:Journal of Research in Education and Society
One of the major problems now facing higher education in Nigeria is the problem of under-funding. This is not surprising considering the fact that in the recent times, government revenues have reduced sharply, while the national economy itself is in total chaos. The government, which statutorily bears the costs of higher education in the country, now faces tight budget constraints due to the collapse of the oil market, and the need to meet heavy and raising debt service obligations. This paper attempts to examine the past and present trend of funding higher education in Nigeria, the effects of inadequate funding and possible sources of funding. To sustain higher education in the country, it was suggested among others that all stakeholders - parents and guardians, the society in general, the private sector and non-governmental agencies must become involved in the financing education in the country.