It has been observed that in both developing nations constitute one of the largest industries and the greatest consumer of public revenue (Alu et la 2001).
Education utilizes large amounts of a country’s available resources and how it does this affects the well being of the population (O’ Donoglue, 1971:8) Based on this facts about education finance, it can no longer be regarded as an overstatement to say that ‘the financing of
education has been an intractable problem for government in most developing countries because of the uncontrolled increase in school age population” (Peretomede 1995:93). This had ensured perpetual expansion of education, which in turn aids the advancement in the cost of education.
According to Peretomede (1995) there are other factors which contributed to the problem of financing education in Nigeria which include;
i.        The widening perception of education as the key to upward economic and special mobility.
ii.     The wide spread adoption of public policies aimed at democratizing educational opportunities (UBE) and Free Education at all levels, the policy of some state government.
iii.   The rapid expansion, upgrading and diversification of man power requirements due to technological advances in the economy and new emphasis on economic development. So, the review of the related literature is based on the following:
(i)    Brief history of education finance in Nigeria.
(ii) Traditional sources of school for education.
(iii)     Alternative sources of revenue for education
(iv)     Education tax fund ()ETF).
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