Quality Financing of Higher Education in Nigeria: A Nostrum for the Provision of Quality Education

The subject of Quality in Education is not strange in many countries. Education for all by 2015 is one of the provisions of the Millennium Development Goals (MDGs). But the big question is what form of education do we hope to give by 2015, a qualitative education or an inferior education? This paper holds the opinion that one major factor that can guarantee quality education in Nigeria is the appropriation and prudent and responsible use of funds. The government and adequate private sector participation should endeavor to make adequate funding available to universities, polytechnics, monotechnics, and colleges of education. The paper conceptualizes the meaning of quality and quality education, as well as, tracing the history of government funding of higher education. It dwelled on higher education since higher education is the sector of education that guarantees the provision of adequate manpower to sustain economic growth of any nation. Series of statistics was made available to show the lack of adequate funding of higher education. The paper thus recommended that government should take more seriously the funding of education, staff welfare and condition of service must be improved, private sector participation should be encouraged and there must be deregulation of the educational industry