Between 1999 and 2026 Nigeria's university system grew from fewer than fifty institutions to more than three hundred, yet this numerical expansion has not been matched by a comparable improvement in funding, staffing, infrastructure, or graduate outcomes (TheCable, 2026). This article argues that Nigerian higher education has undergone a form of growth without development: institutional proliferation driven by political demand for access and by the licensing of private universities has outpaced the financial and regulatory capacity needed to sustain quality. Drawing on massification theory (Trow, 1973) and resource dependence theory (Pfeffer & Salancik, 1978), together with recent policy reporting and labour-market research, the article traces how chronic underfunding (allAfrica, 2025; Businessday NG, 2026), academic staff emigration (Akinwale et al., 2023; Federal Ministry of Information and National Orientation, 2026), and a persistent mismatch between curricula and labour-market needs (National Bureau of Statistics, 2024; Pitan & Adedeji, 2012) combine to erode the developmental capacity of an expanding system. The article concludes with policy recommendations centred on licensing restraint, performance-linked funding, staff retention, and stronger industry linkages.

Keywords: University, Institutions, Funding, Growth, Development, Higher Education