Funding of education is influenced by both internal and external players; the internal players include teachers union, government, and bureaucrats, external players such as international aid, agencies and development bodies, Non-governmental organizations. They all have some measure of influence on educational reforms and implementation of educational policy. The paper argues that education is mostly politicized in Africa, using Nigeria as a reference point and also funding is one of the banes of the development of the sector. Analysis of educational budget from 1999 to 2019 compared with all the previous allocations, the 2019 education budget is higher than others in sum but lower in percentages to the entire estimates. The report has shown that the average of the total allocation to education is just 8.96% And analyzing government spending since 1999 to date in education have shown that it is far below the required 26 % benchmark recommended by United Nations Educational, Scientific and Cultural Organization (UNESCO) in funding the education sector. The paper concludes that there is a need for political leaders to show more commitment to educational development in Nigeria especially through improved funding and suggest that education funding in Nigeria should be extended to other ministries, department, agencies and well meaning individuals in other to support the educational sector

Keywords : Education, Politics, Financing, Budget, Policy.