THE COST OF TERTIARY EDUCATION IN NIGERIA

THE COST OF TERTIARY EDUCATION IN PRIVATE AND PUBLIC INSTITUTIONS IN NIGERIA: A CASE STUDY OF BABCOCK UNIVERSITY AND THE UNIVERSITY OF IBADAN.

INTRODUCTION

Education can be seen as an investment due to its potential yields, for this purpose, both the public sector and private individuals have continued to contribute to education financing in Nigeria.

Despite this contributions, the Public Universities have been said to provide sub-standard Education while its Private counterparts continue to flourish. Thus the need for this study.

This study focuses on the cost of completing a degree programme (law) in the University of Ibadan and Babcock university.

 

THE COST OF EDUCATION IN BABCOCK UNIVERSITY AND THE UNIVERSITY OF IBADAN

Babcock University which is a private University is fully funded by individuals and runs on the fees paid by its students. For this reason, it is far more expensive to study in such Private Universities than in a Government funded University like the University of Ibadan.

This study looked into the cost of Studying law in both Universities. The following findings and observations were made as a result of this study;

 

COMPARATIVE STUDY ON THE COST OF STUDYING LAW IN THE UNIVERSITY OF IBADAN AND BABCOCK UNIVERSITY BOTH IN NIGERIA.

COST OF STUDYING LAW IN BABCOCK UNIVERSITY

Babcock University
Babcock University School Gate
100 Level200 Level300 Level400 Level500 Level
INSTRUCTIONAL 1992,300992,300992,300992,300391,040
FEEDING
2 Meals Option133,529133,529133,529133,529133,529
3 Meals Option200,293200,293200,293200,293200,293
Accommodation
Classic212,400212,400212,400212,400212,400
Premium141,600141,600141,600141,600141,600
Regular99,12099,12099,12099,12099,120
Other Charges
Professional fees158,700158,700158,700158,700158,700
Graduation, Alumni Fees47,88047,880
E-payment Course15,00015,00015,000
Fraud Audit Course *35,00035,00035,000
Miscellaneous (Other Charges)211,840169,140170,340170,340170,340
TOTAL1595489 – 19090621552789-18663621553989-18675621553989-1867562952729-1266302
GRAND TOTAL7,208,9858,776,85071039858671850 **

1 Instructional Include: Tuition, Registration, Library, Development fees, * Optional, Miscellaneous (other fees) include: PCF, BUSA, IT Competence, etc, **Grand total for those who did not take option *

 

COST OF STUDYING LAW IN THE UNIVERSITY OF IBADAN.

University of Ibadan
Entrance to the University of Ibadan

100

200300400500
Fees +GES24,20018,10019,60018,10028,100
Registration30001500250012501250
Medical Fees10001000
I. D card650650
Sports10001000
Examination15001500
Accommodation per bed space1500015000140001400014000
Acceptance fee35000
Admission and Orientation fee7500
Caution deposit500
Faculty Prospectus500500
Faculty registration750750
Faculty Association10001000100010001000
Insurance charge10001000500500500
Portal access fee20002000200020002000
Library registration500500
Matriculation fee1000
Graduation fee5,000
Total9210042900386003585050850
Grand Total225450

information from both schools were gotten from; https://www.babcockuniversity.com/finance https://ui.edu.ng/feespayable

Myschool Gist , Babcock University

University of Ibadan

From the study, we found out that the cost of Studying law in Babcock University Therefore Ranges between 7103985 Naira and 8776850 Naira, while in the University of Ibadan it ranges from as low as 225450 Naira only.

From the study the following were learnt;
  • Cost of studying a degree programme in a private institution and studying same in a Federal government owned institution is in a ratio of 20:1

 

  • Lesson learnt university of Ibadan is more affordable than Babcock university

 

  • Accommodation in university of Ibadan is far cheaper than Babcock university

 

  • Babcock university have provision for feeding of their students and university of Ibadan does not.

 

  • Babcock University provides world class learning facilities but University of Ibadan does not

 

  • Babcock University students enjoy better education environment than those in University of Ibadan

 

  • Babcock University does not provide education for the average and poor in the Nigerian society.

 

EVALUATION

The National Policy on Education recognizes Education as an expensive social service that requires the adequate financial provision for the successful implementation of Educational programmes ( Ogunyinka, 2013).

There is need for private individuals to partake in the funding of Education as a result of the over burden of Educational

funding on the Government which has led to instability and provision of low standard and outdated Educational services.

According to Saavedrea (2003), since the 1980’s, corporate organizations, communities, philanthropists, international development partners,

multinational corporations have provided resources for Education delivery in the country.

Despite being true, these contributions have proven to be unable to satisfy educational needs of Nigeria today and for this reason many individuals including Federal government appointees and policy planners have suggested that private individuals should be allowed to contribute to the funding of their own

Education in Public Tertiary Institutions as it is the case of its private counterparts; in order for education to continue to blossom in Nigeria.

 

CONCLUSION

Conclusively, there is need for improvement in Educational financing in Nigeria with special emphasis on the government funded institutions in order for them to be able to compete with their private counterparts and other tertiary institutions of International Standard.

However, due to the economic state of the country Educational funding through school fees in public institutions may not be feasible and for this reason an increase in the Educational budget of the country has been recommended.

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