Alternative Perspective to Funding Public Universities in Nigeria

Olayiwola, Shina

doi:10.5772/29056

“…The above makes it very essential, the report by Institute for Fiscal Studies [IFS], that calls for consideration of funding options that are sustainable and that could also ensure that higher education continues to be accessible to all applicants. Okuwa & Campbell, (2017) ;Olayiwola, (2012) on their part suggested that, in the light of numerous challenges facing African governments, it is critical for tertiary institutions to diversify their sources of income to include mobilizing more funds from business entities, households and development partners and this would include PPP. Consequently, the universities should also ensure more efficient and effective use of resources available to them.…”

Section: Literature Reviewmentioning

confidence: 99%

Public private partnership (PPP) as an aid to tertiary institution support for internally generated revenue (IGR): a case study of yaba college of technology

O¹,

O²,

A³

et al. 2022

S. F. J. of Dev.

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This study is on the contribution of public private partnership (PPP) to education development by generating revenue to sustain the infrastructure and academic decency of Yaba College of Technology, Lagos in Nigeria. Higher Education is a veritable tool for socio-economic development of any country. Training and educating society are the key influence of tertiary institution but they need to be financially sustained to carry out functional duties in terms of resources and development. PPP is seen as a solution to revamping educational sector that is experiencing failure in research and infrastructure growth everyday due to insensitivity on the part of government to finance education by meeting up the minimum requirement benchmark put forward by the United Nation (UN). The study identified the sources of internally generated revenue (IGR) of Yaba College of Technology, limitation facing these IGRs and investigated key issues affecting attempts to improve the IGR. The survey research strategy was used through questionnaire distribution to academic and non-academic members of staff for data collection. A total 150 questionnaires were returned. Sale of admission forms and Tuition fees and revenue from commercial ventures were revealed as main source of IGR. Analysis of the questionnaires showed key issues with IGR improvement to include performance, marketability, internalization, research and development as the challenges facing the institutional growth of the college. The study therefore recommends that concerted effort should be made by the government and private sectors to providing lasting solution to decline in educational sector of Nigeria.

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“…The above makes it very essential, the report by Institute for Fiscal Studies [IFS], that calls for consideration of funding options that are sustainable and that could also ensure that higher education continues to be accessible to all applicants. Okuwa & Campbell [24] and Olayiwola [25] stressed the need of African tertiary institutions to expand their source of fundings due to several challenges facing the government to include partnership with business via PPP. Consequently, the universities should also ensure more efficient and effective use of resources available to them.…”

Section: Introductionmentioning

confidence: 99%

Public Private Partnership (PPP) as an Aid to Tertiary Institution Support for Internally Generated Revenue (IGR): A Case Study of Yaba College of Technology

Olalekan¹,

Owoseni²,

Alaka³

et al. 2022

EAS

0

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This study is on the contribution of public private partnership (PPP) to education development by generating revenue to sustain the infrastructure and academic decency of Yaba College of Technology, Lagos in Nigeria. Higher Education is a veritable tool for socio-economic development of any country. Training and educating society are the key influence of tertiary institution but they need to be financially sustained to carry out functional duties in terms of resources and development. PPP is seen as a solution to revamping educational sector that is experiencing failure in research and infrastructure growth everyday due to insensitivity on the part of government to finance education by meeting up the minimum requirement benchmark put forward by the United Nation (UN). The study identified the sources of internally generated revenue (IGR) of Yaba College of Technology, limitation facing these IGRs and investigated key issues affecting attempts to improve the IGR. The survey research strategy was used through questionnaire distribution to academic and non-academic members of staff for data collection. A total 150 questionnaires were returned. Sale of admission forms and Tuition fees and revenue from commercial ventures were revealed as main source of IGR. Analysis of the questionnaires showed key issues with IGR improvement to include performance, marketability, internalization, research and development as the challenges facing the institutional growth of the college. The study therefore recommends that concerted effort should be made by the government and private sectors to providing lasting solution to decline in educational sector of Nigeria.

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Inadequate Funding as the Bane of Tertiary Education in Nigeria

Famurewa¹

2014

GJEA

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History and growth of the University system started in 1948 with establishment of the University College Ibadan (now University of Ibadan) by the British Colonial Masters. Overtime, this has grown into a three tier of system consisting of Federal, State and Private Universities. Each tier is financing its own established institutions. The last strike by Academic staff of public schools in Nigeria (Federal and State) when they were agitating for government's positive action on inadequate funding of higher Institutions is a reference point. These kinds of strikes had adversely affected the standard of education in Nigeria to the extent that none of Nigeria's higher institution is ranked among the first seven institutions in Africa. Based on past experience in this country, several efforts of the Federal Government to address this issue have not yielded any progressive result. It is certain that our tertiary Institutions need to raise funds to supplement government funding, and not only this, there is need for proper monitoring of how such funds are being used judiciously because of the corrupt nature of some of our officials in the African continent, most especially Nigeria. It is in doing this that our Tertiary Institutions, especially Universities will be able to conduct relevant and quality researches, improve the quality of graduates being produced and make sustainable contributions to the National development of the country. Consequent upon this, the paper critically examines sources of funding higher education, problems and prospects and posits that one way out of this problem is to focus on internally generated Revenue projects which can be used for research works and other development projects. This I believe will catalyze government's role and create an enabling environment for consistency and better standard of education in the Country.

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Alternative Perspective to Funding Public Universities in Nigeria

Cited by 5 publications

References 5 publications

Public private partnership (PPP) as an aid to tertiary institution support for internally generated revenue (IGR): a case study of yaba college of technology

Public private partnership (PPP) as an aid to tertiary institution support for internally generated revenue (IGR): a case study of yaba college of technology

Public Private Partnership (PPP) as an Aid to Tertiary Institution Support for Internally Generated Revenue (IGR): A Case Study of Yaba College of Technology

Inadequate Funding as the Bane of Tertiary Education in Nigeria

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