This paper examined managing teacher education in an era of economic recession in Imo State, Nigeria. A descriptive survey design was adopted for the study. The population of the study consisted of 6,136 teachers in 430 public secondary schools in Imo State. The sample size of 376 was determined using Taro Yamane formula and the stratified sampling technique was used to identify the sample size. The instrument ‘Managing Teacher Education in an era of Economic Recession Questionnaire’ (MTERQ) was used. The instrument items were designed and validated by the researcher. The internal consistency was 0.76 using Pearson Moment Correlation Coefficient (r) to calculate the results. The finding revealed among others that the strategies for managing teacher education in an era of economic recession in Imo State include: focusing on the use of ICT to access and create information than relying on when library will be stocked with books with current information; encouraging teachers collaboration with other educators to learn how to implement new technology in classroom to equip them enter the global economy; promoting public-private partnership other than traditional methods of donations; adopting special lotteries for raising fund for teacher education; soliciting for NGOs and community participation in the provision resources; harnessing the state potentials in the area of arts/crafts, film industries to raise fund and other materials; and ensuring innovative skills, critical thinking on ways to tackle problems is held paramount by colleges and individual teachers. Based on this finding, the writer recommends that government at all tiers and college authorities should explore alternatives as identified by this study and as well enter into partnership with private organizations, NGOs and communities in the provision of material and financial resources for the management of teacher education programme in a period of economic recession.