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ERIC Number: EJ1081308
Record Type: Journal
Publication Date: 2015
Pages: 5
Abstractor: As Provided
Reference Count: 14
ISBN: N/A
ISSN: ISSN-2222-1735
Revitalising the Nigerian University System: The Imperatives of a Market Driven Funding Mechanism
Chiemeka, Nnorom; Nwagwu, Nwakaire Onuzuruike
Journal of Education and Practice, v6 n30 p77-81 2015
The needs assessment report of Nigerian public universities (2012) exposed a disturbing level of decay in public universities in Nigeria. The report, among other things advocated better financial management as a panacea for revitalising the university system. This paper compared the direct funding allocation mechanism (which is the major way of funding public universities in Nigeria) with indirect funding mechanisms. Results from the comparison showed that indirect funding mechanisms like education vouchers applied to both public and private universities would increase the capacity of private universities to compete with the overly dominant public universities. It was therefore concluded that a mixture of a market driven mechanism like the voucher system mixed with the current direct system of funding will be better suited for driving innovation and entrenching financial prudence in the Nigerian universities.
IISTE. No 1 Central, Hong Kong Island, Hong Kong SAR. Tel: +852-39485948; e-mail: JEP@iiste.org; Web site: http://iiste.org/Journals/index.php/JEP
Publication Type: Journal Articles; Reports - Evaluative
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: Nigeria