ALTERNATIVE SOURCES OF FUNDING PUBLIC UNIVERSITIES FOR SUSTAINABLE DEVELOPMENT IN RIVERS STATE

Abstract

The study investigated alternative sources of funding public universities for sustainable development in Rivers State. The study reveals funding of public universities generally in Nigeria is majorly done by the government and recent times have decreased which has led to the insufficiency in the administration and management by the universities. Student enrollment has been in Nigeria a high increase while the fund allocation is not increasing). The study employed a descriptive survey design. Two research questions were formulated and two hypotheses were postulated and tested. The population of this study comprised all the 3,702 staff in the 3 public universities in Rivers State. To achieve this, proportionate sampling technique was used to select 447 staff from university of Port Harcourt, 530 from Rivers State University and 133 staff from Ignatius Ajuru University of Education. The 1,110 staff that was sampled for the study represented 30% of the total population of staff in the 3 public universities in Rivers State. It was constructed in line with the modified four-point Likert scale Questionnaire that was constructed in line with the modified 4-point Likert rating scale of Strongly Agree (SA)- 4points, Agree (A) - 3points, Disagree (D) - 2points, Strongly Disagree (SD) - 1 point. The study conclude that has established sources used by university administrators to source fund for the effective administration as well as the formula adopted by university administrator in allocating fund generated for the effective administration of public universities in Rivers State. The findings of the study indicated that university administrator generate fund for the administration of the institution through the Parents Teachers Association, school community, renting school facilities and engaging in production of goods and services. The study recommend among others education administrators should map-out others sources of generating fund in addition to the provision made by government. In managing educational resources, government should ensure that funds provided are sufficient to meet school demand for smooth operation.