DERIVED STAKEHOLDERS' FUND UTILISATION MODEL FOR NIGERIAN PUBLIC HIGHER EDUCATION INSTITUTIONS (NPHEIS)

This paper studied the possibility of evolving Nigerian public higher education institutions’ {NPHEIs’} stakeholders’ fund utilisation model for sustainable improved higher education provision. It examined one principal thematic question under some sub-themes. The qualitative approach was used. The population of the study was all public tertiary education institutions in Nigeria irrespective of whether their ownership is either national or sub-national. The country was classified along the six existing zones: Each type of higher institutions: colleges of education, polytechnics and universities was purposively selected from one randomly state from each zone provided at least one is owned by the national and the sub-national give 18 PHEIs, made up of six of each type of HEIs (903 respondents participated). Interview schedule and Focus group discussion {FGD} guide were used data which were qualitatively thematically analysed. The results showed that the stakeholders proposed three principal component-NPHEIs’ stakeholders’ model for participation in fund utilisation: They are namely, 1. Transparency and accountability with emphasis on mechanisms for transparency, accountability and internal control; 2. Monitoring and supervision with mechanisms for prudent practices, stakeholders’ involvement in fund management and records keeping, and monitoring oversight committees; and 3. Institutional fund managers’ high level financial discipline. It was concluded that a summit of stakeholders’ should be convened to consider and adapt the model for legislation and implementation. Recommendations were that all stakeholders led by the government should adapt the model for implementation for improved financial prudence, and the oversight over financial administration should by stakeholders’ representatives. Word count: 243