Emergence of Private Universities in Nigeria and Monitoring Standards between 2002 and 2012

University education is at the centre of human resource development. The nation’s professional and highly skilled personnel are trained and developed in the universities. The emergence of the private sector universities in Nigeria is well remarkable. No doubt, there is need for more private sector participation in establishing universities as a result of the large population of deserving students for university admission, critically important is to ensure a universal standard is upheld. The study methodology is literature exploratory on the emergence, and future sustainability of the private universities for higher education in Nigeria focusing on assessment and standard regulations. The study has largely drawn from articles on the subject and reports of regulatory education authorities. Quality is therefore, significantly a function of cost-effectiveness, current technology, accountability and transparency in expenditure and strict adherence to requirements set out in the academic briefs and master Plans. Strategic planning and uncompromising adherence to estimate as contained in the Annual Budget. Consequently, running a private university is a more serious business than profit making.