Assessment of Tertiary Educational Institutions Funding by Oyo State Government, Nigeria
This paper examined funding pattern of public tertiary educational institutions in Nigeria to determine its adequacy and compliance with the United Nations Educational Scientific Committee standard on education. Secondary data was used which covers the period of 2010 to 2020. Oyo State government tertiary educational institutions were purposively selected as samples. Information for this study was collected from the approved budget of Oyo State government. Descriptive analyses were used to analyze the result. The result revealed that tertiary educational institutions in Oyo State are yet to meet the best practices as established by the international standard on funding of educational institutions by not making adequate provisions in the budget and releasing funds to the institutions concerned. It was also discovered that tertiary educational institutions were not allowed to generate enough funds on their own to support government subvention as these institutions charged lower fees because of the government’s free education program. The study concluded that tertiary educational institutions did not receive adequate funding from the state government within the period of this study. Keywords: Assessment, funding, budget, tertiary educational institutions.