FUNDING OF UNIVERSITY EDUCATION IN NIGERIA: CHALLENGES AND PROSPECTS

Samuel O. Faboyede, Adekemi O. Faboyede, Samuel A. Fakile

Abstract


Higher education is the instrument par excellence for development and there is the ultimate need to make it relevant and responsive to the needs of the society. A reliable and sufficient funding platform is a necessity for achieving access to and excellence in university education in Africa. Sources and systems of funding for Nigerian Universities have proven inadequate and innovative or alternative funding mechanisms have become very important more than ever before. This paper examines the funding debacle in Public and Private Universities in Nigeria. It presents the case study of Nigeria Higher Education Foundation (NHEF). Using the secondary data research methodology, it finds that private higher education is the fastest growing segment of higher education worldwide and African universities can as well be more active in getting funds from local institutions and global philanthropic support sources. It recommends, amongst others, the putting in place of a National University educational budget reform which gives unflinching priority to allocation of more funds and that actualizing the realization of suggested intensified creative financing strategies should be the responsibility of all major stakeholders of University education in Nigeria.

 

Article visualizations:

Hit counter

DOI

Keywords


university, funding, Nigeria, National Higher Education Foundation, challenges

References


Adebayo, I. (2013) Funding Nigeria’s Undergraduate University Education. Retrieved from

http://www.ifeadebayo.com/funding-nigerias-undergraduate-university-education/

Ajadi, T.O. (2010) Private Universities in Nigeria: The Challenges Ahead. American Journal of Scientific Research, Issue 7, pp 15-24. Available from

http://www.eurojournals.com/ajsr.htm

Akinyemi, S., Ofem, I. G., and Adebisi, O. (2012) Educational Financing Reforms in Nigeria: A Survey-Based Cost Implications Analysis for University Education. International Journal of Humanities and Social Science, Vol 2, No. 15, August. Available from

http://www.ijhssnet.com/journals/Vol_2_No_15_August_2012/19.pdf

Akinsanya, O.O. (2007) Financing Higher Education in Nigeria. International Journal of African and African American Studies, Vol vi, No. 1, Jan.

Akpotu, N.E. and Akpochafo, W.P. (2009) An Analysis of Factors Influencing the Upsurge of Private Universities in Nigeria. Journal of Social Science, 15 (1), 21-27. Available from

http://www.krepublishers.com/02-Journals/JSS/JSS-18-0-000-09-Web/JSS-18-1-000-2009- Abst-PDF/JSS-18-1-021-09-499-Akpotu-N-E/JSS-18-1-021-09-499-Akpotu-N-E-Tt.pdf

Altbach, P.G. (2012) African Higher Education Challenges: Economics and Research. Available from https://www.insidehighered.com/blogs/world-view/african-higher-education-challenges-economics-and-research

Deji-Folutile, O. and Oketola, D. (2014) Experts Propose Creative Ways of Funding Nigerian Universities. Available from http://odili.net/news/source/2014/nov/23/807.html

Ewuzie, K. (2014) Glamour Heightens for Private Varsities to Access TETFUND. Available from http://businessdayonline.com/2014/11/clamour-heightens-for-private-varsities-to- access-tetfund/#.VKWSRskrddg

Idumange, J. and Major, B.N. (2006) Private Universities in Nigeria: Implications for Quality Control. Being A Paper Presented At The 30th Annual Conference Of The Nigerian Association For Educational Administration & Planning (NEAP) Held On Monday October 2nd –Friday Oct. 6th, 2006. Available from

http://img.thenigerianvoice.com/images/content/report_content/privateuniversitiesinnigeriabyidumangeandmajor.pdf

Ishengoma, J. (2002) Financing Higher Education in the Federal Republic of Nigeria:Developments and Trends. Available at www.academia.edu.

Kpolovie, P.J. and Obilor, I.E. (2013) Adequacy-Inadequacy- Education Funding in Nigeria. Universal Journal of Education and General Studies, Vol 2 (8), pp 239-254, August. Available from

http://universalresearchjournals.org/ujegs/pdf/2013/August/Kpolovie%20and%20Esezi.pdf

Nigeria Higher Education Foundation (2014) Nigeria Higher Education Foundation Website. Available from http://thenhef.org/

Okojie, J.A. (n.d.) Innovative Funding in the Nigerian University System. Available from www.unilorin.edu.ng/downloads/Okojie-innovative%2520Funding..ppt

Olaleye, F.O. (2012) Sustainability of Private Sector Participation in the Provision of Access to Higher Education in Nigeria. Journal of Emerging Trends in Educational Research and

Policy Studies, 3 (4), pp 580-586. Available from www.jeteraps.scholarlinkresearch.org

Olokor, F. (2012) Nigerian Universities Should Source Funds Privately- Anyim. Available from http://www.punchng.com/news/fg-may-stop-funding-varsities-anyim/

Onuka, A.O.U. (2008) Funding the Nigerian University Education: The Role of the Various Stakeholders. Available from http://herp-net.org/revitalising_higher_education.htm

Onuoha, L.N. (2013) Financing Higher Education in Nigeria: The Role of Internally Generated Revenues and How University Management Can Maximize the Sources. Canadian Social Science Journal, Vol 9, No. 1. Available from

http://dx.doi.org/10.3968%2Fj.css.1923669720130901.1956

Oseni, M. (2012) Adequacy of Budgetary Allocation to Educational Institutions in Nigeria. Pakistan Journal of Business and Economic Review, Volume 3, No. 1. Available from

http://www.journalsbank.com/pjber_3_4.pdf

Ubogu, R.E. (2011) Financing Higher Education in Nigeria. Journal of Research in Education and Society, Vol 2, No. 1, April. Available from

http://www.icidr.org/jres_v2nos1_april2011/Financing%20Higher%20Education%20in%20nigeria.pdf

Udoh, A. O. (n.d.) Alternative Sources of Funding University Education in Nigeria. Available from http://www.ajol.info/index.php/afrrev/article/viewFile/41067/8492




DOI: http://dx.doi.org/10.46827/ejsss.v0i0.227

Copyright (c) 2018 Samuel O. Faboyede, Adekemi O. Faboyede, Samuel A. Fakile

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

The research works published in this journal are free to be accessed. They can be shared (copied and redistributed in any medium or format) and\or adapted (remixed, transformed, and built upon the material for any purpose, commercially and\or not commercially) under the following terms: attribution (appropriate credit must be given indicating original authors, research work name and publication name mentioning if changes were made) and without adding additional restrictions (without restricting others from doing anything the actual license permits). Authors retain the full copyright of their published research works and cannot revoke these freedoms as long as the license terms are followed.

Copyright © 2016 - 2023. European Journal Of Social Sciences Studies (ISSN 2501-8590) is a registered trademark of Open Access Publishing Group. All rights reserved.

This journal is a serial publication uniquely identified by an International Standard Serial Number (ISSN) serial number certificate issued by Romanian National Library. All the research works are uniquely identified by a CrossRef DOI digital object identifier supplied by indexing and repository platforms. All the research works published on this journal are meeting the Open Access Publishing requirements and standards formulated by Budapest Open Access Initiative (2002), the Bethesda Statement on Open Access Publishing (2003) and  Berlin Declaration on Open Access to Knowledge in the Sciences and Humanities (2003) and can be freely accessed, shared, modified, distributed and used in educational, commercial and non-commercial purposes under a Creative Commons Attribution 4.0 International License. Copyrights of the published research works are retained by authors.