CHALLENGES IN OWNERSHIP AND FUNDING PRACTICES OF UNIVERSITY EDUCATION IN NIGERIA

Abstract

The motivation to publish this paper is the need to save the Nigeria Public Universities from going into extinction from under-funding. The problem of poor funding of universities is one of the major challenges impeding the potentials of the Nigerian University education system to act as a catalyst to growth and development. This paper does not subscribe to public universities autonomy rather it accepts funding along the line of ownership, being citizen’s right to affordable education. The paper insists that apart from the conventional sources of funding in public universities such as government subventions, donations, endowment funds and levies among others. Universities can explore alternative strategies such as taking more aggressive posture in commercializing innovations, research funding, the avenue of parents/management forum could be explored and host community contributions effectively considered. Most of all, beneficiaries of university education are identified to contribute because every rational individual will contribute to a project because of the benefit they have gotten from it as alumnus of such universities. The paper recommended that all beneficiaries of university education should be informed through appropriate medium to contribute their quota to the funding process. While management of universities are also challenged to judiciously use available resources.