Abstract

Inadequate funding is a major challenge facing the administration of universities in Nigeria. The university system
requires a lot of funds for effective administration to be realized. The annual budgetary allocation for the
administration of universities in Nigeria is grossly inadequate. The inability of the federal government to stick to
the UNESCO 26% of national budget for education is affecting the management of Nigerian universities. For over
a decade now, the annual budget for the entire educational sector in Nigeria is below 15% and this is affecting the
effective administration of the different levels of education in the country, including the university system. The
poor funding of education is responsible for the poor quality of the universities’ education in Nigeria. The annual
budget for the administration of universities in the country is not adequate to provide the needed infrastructural
facilities and human resources that the various universities required to function properly. This study therefore
discussed the benefits of funding tertiary education in Nigeria. The provision of adequate funds in the university
system will lead to the expansion of the universities and the establishment of more universities in the country.
Moreover, adequate funding of tertiary institutions will help to fix the infrastructural facilities gap in the various
institutions, attract international lecturers, prevent strike actions, enhance research development, improve
international ranking, among more others