The Vice Chancellor of Al-Hikmah University, Prof. Taofeek Ibrahim, has called on governments and corporate organizations to assist in funding private universities across the country.
Prof. Ibrahim made the call on Sunday during an interview with the News Agency of Nigeria (NAN) in Abuja.
He said that the development would reduce school fees and boost human capital development. He also said that private universities are charging higher than their public counterparts because it costs a lot to provide qualitative and steady education.
“The current school fees are due to the payment of salaries for workers and researchers which are to be operated at high level. Public schools pay lesser fees because government, subsidize costs of infrastructure, pay workers’ salaries and provision of other materials.
“Proprietors of private universities are not making profit; rather they are assisting the government for human capital development. Once government is able to make inputs in terms of additional funding, it means costs will reduce and it will go a long way to reduce the students’ school fees.
“If we have support from private organizations as their Corporate Social Responsibilities (CSR), it will afford more youths the ability to gain admissions into private universities because the school fees will be highly subsidized,” the VC said.
He added by saying that the extension of Tertiary Education Trust Fund (TETFUND) to private tertiary institutions should be highly considered.