This study explores private sector sources of participation in the management of open and distance learning in Nigeria. Fourteen private sector sources were derived for the study, and respondents were required to score each of the sources between ‘1’ and ‘14’ for the promotion of private sector participation in education of open and distance learning. The instrument was administered to 400 facilitators (teachers) in the open and distance learning/study centers. The study clearly showed that, partnership with private sector could turn around the life of the students for better. Finally, the paper identified a number of private sector sources of participation, among them are skill development, to reduce the level of unemployment, evaluation to make it cooperative in nature, curriculum designing to make curriculum contents relative to the needs of students and society. Others include linkage with the industry for the involvement of students in open and distance learning for practical activities, setting up of entrepreneurial programs, fund raising, donation and others. Recommendations were made for improvement.