Educational Planning and Funding Models in Nigeria: Balancing Equity and Quality

Abstract

Education is a fundamental driver of socio-economic development, yet Nigeria’s education system faces significant challenges in balancing equity and quality. This article examines the evolution of Nigeria’s education system, highlighting the role of educational planning and
funding models in addressing these challenges. It reviews historical developments, the National Policy on Education (NPE), and strategic planning models such as the Five-Year Plans, Medium-Term Sector Strategies (MTSS), and Education Sector Plans (ESP). The study also analyzes funding mechanisms in Nigerian education, including public financing, private sector involvement, and innovative funding models such as education bonds and public-private partnerships (PPP). Key challenges including insufficient funding, policy inconsistencies, political instability, corruption, and regional disparities are critically
examined. To address these issues, the paper recommends enhanced funding strategies, strengthened data-driven planning, inclusive policies for marginalized groups, and quality improvement measures such as teacher training, curriculum reform, and infrastructure
development. A multi-stakeholder approach involving the government, private sector, and international organizations is essential for sustainable educational development. By implementing these reforms, Nigeria can create an equitable and high-quality education system that fosters national development and global competitiveness.