Project Financing in Public Universities in Nigeria

This paper examined challenges facing effective project financing in the Nigerian public universities. Secondary obtained from print and online publications were used for the paper. The paper concluded that poor funding, inflation, change in government, poor financial planning, weak university’ administrators, misappropriation of funds, insecurity problems, changes in university management and administration, fall in national revenue, subside payment, corruption in budgetary planning, poor internally generated revenue and national and state debt servicing are the challenges hindering effective project financing in the public universities in Nigeria. Based on the problems identified, the paper hereby recommended the following: The government through The TETFund should increase investment on the infrastructure facilities development in the universities. Universities administrators should seek private public partnership (PPP) to finance some of their projects. Governments should diversity the economy to reduce the impact of inflation in the economy and purchasing power in the country.Governments should participate university stakeholder on project initiations, awarding and supervision to ensure continuity of the projects even after expiration of one government tenure since a community projects, continuity will continue. Every government should develop the political will to continue to finance projects inherited from previous administration. Budget officers in the federal, state Ministries and in universities should be trained on effective project planning to ensure quality and implementable finance programme for projects in the universities etc.