A Model Public-Private Partnership Students’ Hostel for Higher Institutions in Nigeria

Abstract

This paper examined the techno-economic viability of a 50-room students’ hostel in Nigerian Universities, as a technical solution to the student housing infrastructural deficiency in the universities. Technical data were obtained through literature, market sampling, questionnaire and site inspection. An engineering economic project analysis framework was used. The study determined a 50-room appropriate housing hostel for students in Nigeria Universities, with a projection of 20 two-bedded rooms and 30 three-bedded rooms. Technical/economic requirements include an initial investment of ₦151,120,155 million, an annual expenditure of ₦3,610,000 million and an annual revenue of ₦15,240,000 million. Profitability Indices include Net Present Value of ₦94,688,682 million, with payback period of 12 – 13 years. About 73.3% of the respondents were willing to pay and stay in the private hostel, out of which 94.4% were female students. The study concluded that the 50-room students hostel infrastructure was technically and economically viable, and a suitable template for Nigeria Universities.