The necessity of the study is premised on the face of dwindled financier support to private secondary schools which necessitated the arbitrary increase in school fees by proprietors and consequence outcry by patrons. The study believes that there is the need for mutual understanding among the stakeholders about what it takes to operate a private secondary school in Nigeria. The study therefore set out to achieve some objectives, some of which are: the impact of school fees charged on students' enrolment; impact of funding on the general condition of teachers; impact of funding on teachers turnover, and how to efficiently fund private secondary schools in Nigeria, among others. To carry out this study about 957 questionnaires was administered to elicit responds from stakeholders who comprises of private secondary school proprietors, principals, teachers, parents, and ministry of education officials. The data collected was analyzed using descriptive statistics involving frequency count, percentages, mean and standard deviation. The hypotheses were tested using the Analysis of Varians (ANOVA) procedure because of the multiple levels of the independent variables (stakeholders). The result of the study shows that fees charged have significant impact on students' enrolment in private secondary schools Nigeria and that in most cases the lower the fees charged, the higher the enrolment in private schools. It also shows that availability of fund has impact on teacher turnover. This suffice to say that enough fund is required to keep teachers on their jobs and also make them work as at when required. The study also revealed among others that stakeholder differs on the method of financier supports that should be given to private secondary schools in Nigeria. On the basis of these findings, the study recommends among others that respective governments should enact a policy framework that would enable the funding of private schools in Nigeria, and that any policy for funding for private schools should of necessity be accompanied with process of accountability for such fund. The implementation of such policy should be placed in the hands of experts in the field of educational planning and administration with specialty in private education provision.