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Over the years, Nigeria has expressed a commitment to education, in the belief that overcoming illiteracy and ignorance will form a basis for accelerated national development. The paper describes the state of education in Nigeria and posits that aside from lack of access, infrastructures, teaching and learning materials, the greatest challenge facing education is inadequate funding by federal, states and local governments, to the extent that funding has been in response to the conditionality imposed by international financial institutions. NESG Economic Indicators Vol. 12 (3) 2006: pp. 9-15
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