In recent times, poor project funding has become a major characteristic of projects executed within the education sector in Nigeria. This is largely as a result of the deteriorated economic situation within the country. Considering the need for proper utilisation of the merger available funds, assessing the performance of projects executed within the sector was deemed crucial. This paper presents the findings of an assessment of cost and time performance of projects delivered using government subvention, Tertiary Education Trust Fund, and Internally Generated Revenue. A study of selected projects delivered through these funding schemes was carried out, and a pro forma was used to harness cost and time data on the selected projects. A questionnaire survey was also conducted to ascertain the measures for improving the performance of educational buildings. Percentage, paired samples t-test, mean score, and Kruskal-Wallis H-Test were employed in analysing the data gathered. Findings revealed good cost performance for the three assessed funding options and poor time performance in all three cases. To improve performance, prompt payment for executed jobs, allowance for price fluctuations, the involvement of clients and construction professionals at an early stage, providing clear project brief and thorough detail design, are important.