The study sought to determine funding patterns and cost-sharing in public universities in Nigeria. The main purpose of the study was to determine lecturers’ perception about funding patterns and cost-sharing in public universities and provide implications for global competitiveness. To achieve the purpose, one research question and one hypothesis were developed to direct the study. One hundred (100) lecturers were purposively sampled from a population of one thousand six hundred and six (1606). A research instrument titled “Funding Patterns in Public Universities and Cost-sharing Questionnaire (FPPUCQ)” was validated, and administered to twenty (20) lecturers, for data collection. Data collected were analyzed with Mean, Standard Deviation and Independent t-test. The result showed that funding patterns and cost-sharing need improvement. It was concluded that the funding patterns and cost-sharing in universities needs improvement in order to ensure the provision of quality education for global competitiveness. It was recommended among others that managers of universities should be more prudent in utilizing the meager allocations of government, students’ contribution, internally generated revenue, philanthropic donations, among others.