The emergence of e-learning in Nigerian universities has revolutionized higher education by enabling flexible, accessible learning and to suggest sound policy solutions to the problems the investigation found. However, implementing and sustaining e-learning systems come with significant financial implications for universities, students, and other stakeholders. This study explores the financial aspects associated with e-learning in Nigerian universities, focusing on infrastructure costs, internet access affordability, and funding challenges. The study used a descriptive research design and a quantitative methodology, data was collected from university administrators, faculty, and students to understand their financial experiences and perceptions. A questionnaire survey was distributed to university administrators, faculty, and students. Data were analyzed using descriptive statistics in order to understand the usage of e-learning and Persons correlation to understand the degree of the relationship between the study variables. The findings reveal that high initial costs for infrastructure, recurring expenses for internet services, and inadequate funding hinder the effective adoption of e-learning, there was a severe lack of power. Some academic staff members lacked adequate e-learning platform training, and students noted that elearning eased communication between students and lecturers, whereas Internet subscription and acquisition of mobile devices were expensive. Recommendations include increased government investment, affordable internet policies, and partnerships with technology providers to ensure financial sustainability and inclusivity in e-learning initiatives.

Keywords: E-learning, Financial implications, Digitalization in universities, Information and communications technology and University education.