Akinrotimi Iyiomo Oyetakin ,Lateefat and Oludare Yahya
The government which statutorily bears the costs of public universities in the country now faces tight budget constraints, hence, the diversification of income streams is a very complex process. The study populations are the principal officers in the management and administrative cadre of the Universities in Ondo State Purposive random sampling method was used to pick the two oldest universities out of the three public Universities in Ondo State. A total number of fifty (50) management staff was used. An inventory tagged ‘Inventory on Internally Generated Revenue in Ondo State Public Universities (IIGROSPU) was used to gather data. Two research questions were raised and one hypothesis tested. Centre for Diploma and Pre- Degree Studies got the highest percentage (49.04%)in AAUA and (44.23%) in FUTA of the total IGR obtained on average for the ten years under consideration. A negative and significant relationship between Internally Generated Revenue and Amount Spent on Infrastructural in public universities in Ondo State in the study period. (r = -.038, P< 0.05). The study concludes that, each university management should create an IGR coordination centre and university managements should make attractive the profit sharing formula between the central administration and the departments where IGR is generated.