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1.1 Background to the Study The sustainability of schools relies in part on the availability and utilization of funds available to support recurrent costs for systems upkeep at the school level. Studies (Bada and Oguguo, 2011) shows that heads of schools report shortages of funds which impact on the daily running of school programmes. Almost all institutions and organizations in Nigeria have been affected by recessions (Bada and Oguguo, 2011). During economic downturns, the world seems to focus on managing budgets. Since 2008 the federal government has taken dramatic measures to help the financial state of many institutions struggling with the current recession. Of those measures, massive bailout packages worth billions of dollars have been proposed and passed to help institutions across the nation. Schools have not been excluded from these tough financial times. Educational institutions historically struggle to get funding, but the recent recession has made revenue building particularly difficult. From state and local governments to the school community, financial support for public schools has decreased dramatically. As a result schools have had to adjust by making cuts in all areas including personnel, supplies, building structures, and programs, (Ijeoma, 2007). Primary education serves as the foundation in the formal process of ensuring changes in the behaviour of the growing members of the society. The success of any subsequent level depends, to a great extent on the effectiveness of the foundation. Hence, the primary formal education occupies a natural prime of place in any nation’s educational system. In light of this, Mallison (1980) described primary education as the keystone of the whole educational structure. As a foundation, it invariably determines what the outlook of subsequent higher levels of formal education will be. Primary education deals with young children coming fresh from their homes without any exposure at all to the outside world. This level exposes the child to become an integral part of the society. It exposes the child to adapt to situations out of the home environment. He/she begins to associate with peer groups out of the family setting. The objectives of the primary education in Nigeria as spelt out in the National Policy on Education (2004, revised) states: The inculcation of permanent literacy and numeracy and ability to communicate effectively; The laying of a sound basis for scientific and reflective thinking; Citizenship education as a basis for effective participation in and contribution to the life of