POLITICAL ECONOMY OF EDUCATION FINANCING IN NIGERIA
The political economy of education is influenced by both internal and external actors, the actors include teachers union, government, and bureaucrats, externally officials of international aid agencies and development bodies. They all have some measure of influence on educational reforms and implementation of educational policy. The paper argues that education is politicized in Nigeria and also funding is one of the banes of the development of the sector. Analysis of educational budget from 1999 to 2016 has shown that the average of the total allocation to education is just 8.5% which is far below the recommendation of UNESCO for funding of education sector. The paper concludes that there is a need for political leaders to show more commitment to educational development in Nigeria especially through improved funding.
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