A part from the traditional sources of educational
finance, there are still other sources, which could assist a lot in education
financing.
Peretomede (1995) identified the following
as the alternative sources of revenue for education in Nigeria:
(a)
Earmarked
Revenue: This could be in the form of
Education Tax or property tax as introduced by federal government and some
local government in Nigeria respectively, such
specially targeted tax revenue
if properly managed and disbursed could became an important source of school
finance.
(b)
International
Aid: Really, foreign organization and
foundations contribute in different ways in the financing of education in the
less developed countries and Nigeria in particular. For instance, United
Nations International Children Education Fund (UNICEF) contributes in many ways
in the financing of education in Nigeria.
Even multi - national corporations like shell, Today
etc.
Equally aid educational finance in Nigeria.
Even multi –
national corporations like shell, Total etc. equally aid educational finance in
Nigeria.
Peretomede
(1995) stated clearly that;
“They provide out right grants, equipment and
training programmes for school staff to developing countries”.
Bray (1986)
identified; old students’ Association as another sources of generating the
education fund. Igwe (1985) as cited in Bray (1986) indicates that all former
students of his old school were recently expected to pay N100 for a school bus.
“Such contributions can only be voluntary, and the
schools is not able to exert the same sort of pressure as it can on parents.
However, well organized projects can achieve a great deal”.
In fact,
alternative sources of educational finance are numerous hence the need for
adoption of each according to the prevailing situation of the entire
educational system in Nigeria.