The paper ex-rayed the concept of privatization of education in an era of globalization and massive demand for education. It traced the history of university education in Nigeria, characterized by regulations and as a public good solely funded by government until the dawn of the 21 st century. In an attempt to justify the upsurge of private universities in Nigeria, the paper examined the trend globally, and succinctly advanced reasons for the establishment and growth of private universities for

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... standards and quality; increased access and better funding to meet the needs of globalization and the deregulation of hitherto publicly managed organizations .