School owners in the country under the auspices of the National Association of Proprietors of Private Schools, NAPPS, have cried out to the government to assist them in coping with the fallouts from the removal of fuel subsidy that has increased their cost of running their schools.
Also, if your child attends private primary or secondary school, expect to pay higher fees next term, as school owners are poised to increase their fees.
To arrive at the decisions and find means of coping with the situation, NAPPS members held a webinar titled: "Government policies and resultant effects on private school administration: A case study on the removal of fuel subsidy."
Addressing the participants, the National President of NAPPS, Chief Yomi Otubela, noted that the policy has far-reaching implications not only for private schools, but also for the education sector as a whole.
"Government policies have a profound impact on various aspects of our lives, and education is no exception. Private schools, in particular, play a crucial role in providing quality education and complementing the efforts of the government. They contribute significantly to the development of our nation's human capital and shape the leaders of tomorrow.
"The decision to remove fuel subsidies has had undeniable repercussions on private school administration. Fuel is an essential commodity that affects transportation costs, energy expenses, procurement of goods and products, services and overall operational cost. As private schools heavily rely on transportation for students to commute and energy for day-to-day operations, any alteration in fuel prices inevitably affects their financial sustainability and, consequently, their ability to deliver quality education.
"The removal of fuel subsidy has had its ripple effect on private school administration. Transportation costs have soared, cost of goods and services have increased, forcing schools to reassess their budget allocations. This, in turn, has led to potential increases in tuition fees, placing an additional burden on parents already grappling with economic challenges. Moreover, the increased cost of fuel and other resources may lead to cutbacks in infrastructure development, teacher training programmes, and extracurricular activities, which are all vital components of a holistic educational experience," he said.
While appealing to government for support, Otubela opined that there were limitations to how school owners could pass costs to parents and guardians without risking losing patronage.
He solicited government's support in the areas of providing school buses on lease agreement models; sponsoring state and private teachers training; giving education grants to school teachers and administrators; opening of education banks to grant loans to teachers, school owners and parents at single digits, and approving tax holiday for teachers and schools.
He also charged private school administrators to adopt prudent financial management practices, explore alternative energy sources, and collaborate with each other to pool resources and expertise.
The Guest Speaker, Mr Bismarck Rewane, the Managing Director of Financial Derivatives Company Limited, said education is critical to the social development of a country.
According to him, the lower a country spends on education, the more it would experience crisis-ridden economy and political instability.
On what are some of the consequences of the policy on schools, Rewane said default in the payment of fees by parents and guardians would be on the rise.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
Listing the steps school owners need to take to cope, he suggested the outsourcing of some aspects of running schools like transportation of students.
"It is only bigger schools that may be able to afford running transport scheme for students. Schools can outsource such either on wet lease or dry lease. Schools should also embrace more of virtual learning, though that cannot replace physical learning hundred percent.
"Government should also give scholarship to students and the money involved paid directly to beneficiary schools directly before the term begins. The federal government should help private school owners and teachers . NAPPS should be part of the palliatives to be given by the government," he said.
On the desirability or otherwise of FG securing $800 million loan from the World Bank, Rewane submitted that given the experience of Nigerians during the COVID-19 pandemic, handouts might not be the best.
