Abstract:

Higher Education is viewed in Nigeria, as in many other developing nations, as a critical contributor to national development. This is because of the belief that economic and social developments are driven more by the advancement and the application of knowledge. This belief has therefore made the Federal Government in Nigeria to keep playing a prominent role in the development of education in terms of funding and even governance. A National policy on education was therefore designed to chart the course of educational development in the country and has been a major reference point to both the public and private education providers. Higher Education funding has been described as the process of procuring and disbursing financial resources to tertiary institutions, for the provision of education of a given standard.