An Empirical Investigation of Private Universities' Funding Practices Towards Sustainability in North-Central Nigeria

Abstract

Inadequacy of funding has remained a major topical issue of discussion for tertiary education in Nigeria. This challenge which is also confronting the private institutions of higher learning, has lingered on to the point where it has become necessary to dig deeper into its funding architecture. As a result, the researcher was motivated to investigate the sustainability-related funding strategies used by private universities in North-Central Nigeria. One research question guided the study and one null hypothesis was tested. The descriptive survey research design was adopted for the study. The population of the study comprised all 32 private universities in North-Central, Nigeria with 974 targeted lecturers. Multi-stage sampling procedure was used to draw 19 universities and 390 respondents as the sample for the study. These represent approximately 60% of the private universities and 40% of the respondents, respectively. A structured questionnaire titled ‘Private Universities’ Funding Practices and Sustainability Questionnaire (PUFPSQ)’ was used for the data collection. Three specialists from the Department of Measurement and Evaluation at Kaduna State University verified the instrument. Using the test-retest approach, the instrument's dependability was evaluated, and the results showed an overall reliability coefficient of 0.80. Together with four research assistants, the researcher gathered pertinent data for the study. Table, Mean, and Standard Deviation were utilized as descriptive statistical parameters to present and interpret results that answered the research question and the Z-test was employed to test the null hypothesis at the 0.05 level of significance. The study's findings showed, among other things, that tuition, development levies, convocation fees, matriculation fees, philanthropic donations, research partnerships with corporate partners, medical fee collections, and admission form sales are all ways that private universities in North-Central Nigeria raise money. Private Universities do have a variety of funding options, but the money they generate is frequently not enough to keep them running efficiently and sustainably.