Professor Sunday Olawale Okeniyi, the Vice Chancellor of Atiba University Oyo, has raised concerns about the challenges private universities in Nigeria face due to inflation and economic difficulties.
One of the significant burdens highlighted by Professor Okeniyi is the high electricity tariffs, where some private universities pay very high monthly bills running into millions of naira. This is a staggering amount, and it’s no wonder that private universities are struggling to stay afloat. He appealed to the federal government to include private universities in the energy tariff rebate and provide support to private institutions, just like the federal and state universities. This would provide much-needed relief to private institutions, allowing them to focus on providing quality education rather than struggling to pay their electricity bills.
He highlighted that, despite the financial strain on students and their families, most private university fees, including Atiba University Oyo are carefully calculated to ensure high-quality education and state-of-the-art facilities.
Furthermore, Professor Okeniyi appealed to the federal government to include private universities in the Tertiary Education Trust Fund (TETFUND) intervention scheme.This, he said would provide private universities with access to funding for infrastructure development, research, and other critical areas. He equally made an appeal for the inclusion of private university students in the federal government loan programs through the National Education Loans Fund (NELFUND). This, he said; would provide students with much-needed financial support, enabling them to pursue their academic goals without undue financial burden.
Professor Okeniyi emphasised that the appeals are highly imperative, considering the current economic climate and the crucial role education plays in driving national development. He reiterated that private universities contribute significantly to the country’s educational sector, and it is only fair that they receive the necessary support in order to continue providing quality education.
Professor Okeniyi further noted that, the Abuja Chamber of Commerce and Industry (ACCI) recently weighed in on the issue, calling on the government to take decisive measures to curb the surge in inflation across the nation. The ACCI has emphasized the need for the government to implement strategic interventions to counter inflationary trends and support businesses, including private universities.
