AN ASSESSMENT OF PRIVATE SECTOR PARTICIPATION IN THE FUNDING OF UNIVERSITY EDUCATION IN RIVERS STATE
Abstract
This study descriptive survey assessed private sector participation in the funding of university education in Rivers State. The study identified the rationale for private sector to participate in the funding of university education. Two research questions and two hypotheses were used for the study. The population drawn from the three universities consists of 194 university staff and 149 personnel from the four registered industries in Rivers State. This gave a total population of 343. The 194 HODs, Deans, Bursar and Registrar and the 149 personnel representing 100% of the population served as respondents. A 12-item questionnaire titled An Assessment Private Sector Participation in the Funding of University Education Questionnaire (APSPFUEQ) was used for data collection. A test re-test method was used and the scores obtained from the exercises were correlated using Pearson Product Moment Correlation Coefficient to determine the reliability of 0.77. The mean and standard deviation were used to answer the research questions while the z-test statistics was employed to test the research hypotheses at 0.05 level of significance. The result amongst others revealed that the ways by which private sector can participate in funding university education is through the provision of relevant and appropriate infrastructural facilities, providing financial support for designs, construction and reconstruction of projects to suit University programmes among others. On the other hand, the strategies that can be adopted to strengthen private sector participation in the funding of university education is that university administrators should inform private organization on how the funds they have contributed are being utilized and also establish mechanisms at universities to solicit funds from diaspora among others. It was recommended that private sector should recognize the fact that training personnel to act as agent of refurbishment in industrial operational capability to bring about productivity from institutions is necessary, and this will make them to be active in funding university education.
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