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

Abstract

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.