The study examined the relationship between Basic Accounting Education and the cost of governance in Nigeria. The population consisted of Federal civil servants and political office holders serving in the Akwa Ibom State. The simple random sampling technique was used in selecting 360 civil servants between salary grade level 10 and 15 from the Federal civil service to constitute the sample of the study. Two null hypotheses were formulated to direct the study. Data collection was carried out using a structured questionnaire tagged “Accounting Education and Cost of Governance Questionnaire” (AECGQ). The null hypotheses were tested at 0.05 alpha level using Pearson Product Moment Correlation Coefficient Analysis. The reliability coefficient stood at 0.78, justifying the use of the instrument. The two null hypotheses were rejected, indicating a significant relationship between Basic Accounting Education and the cost of governance in Nigeria. It was recommended, among other things, that every public servant and political office holder should be given Basic Accounting Education in order to master the rudiments of book-keeping and accounting records.