Abstract:
University education in Nigeria and indeed any other part of the world plays a crucial role in the
supply of highly skilled manpower to manned different sectors of the nation’s economy. The gross
under-funding of the education sector in the country has been rendering the university system
incapacitated. This paper examines issues such as, description of the Nigerian higher education
system, financing higher education in Nigeria, problems of funding and utilization in Tertiary
institutions in Nigeria, importance of adequate funding of universities in Nigeria and finally
Tertiary Education Trust Fund (TETFund). This paper concludes that management of higher
education in general and university education in particular has been bedeviled by inadequate
funding. The Paper recommends that universities should be adequately funded and finally good
management and accountability in the universities should be ensured.
