Poly ilaro27092021500 pm

3 de Oct de 2021

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Poly ilaro27092021500 pm

  1. “BOOSTING INFLOWS AND IMPRPOVING ACCOUNTABILITY IN NIGERIA TERTIARY INSTITUTIONS ” Venue: Imperial Hotel Quarry Road Abeokuta October 2, 2021 Being paper presented By: Mr. Kayode Adebiyi, FCA, MBA, MIoD At a retreat organized by Bursary Department Federal Polytechnic Ilaro
  2. 2 Introduction  Government funding subvention are grossly inadequate to satisfy the needs of contemporary Nigeria Universities and Polytechnics.  Nigeria’s public universities rely primarily on government funding , which usually comes to less than 10% of the national budget at the federal level, below the Africa average and UNESCO’s minimum recommendation of 15%.  According to The World Bank and UNESCO’s Education Finance Watch 2021 report, the pandemic has led to cuts in both external education aid and internal education budgets in two-thirds of low- and middle-income countries.  In addition, apart from providing the best quality education, administrators of tertiary institutions have increased focus on generating revenue for their institution.  Putting in place effective strategies and policies to enhance internally generated revenue is critical for Tertiary Institutions.
  3.  Ministries,  Federal  Local governments  ???????????????? Government Funding •The sale of admission form, • Schools fees, • Tuition fees • Accommodation fees, • Association registration fees, • Interests and returns from loans and investment earning • NGOs, philanthropic foundations Donations •??????????? Internally Generated Revenue (IGR) FUNDING: WHICH WAY FORWARD
  4. Merchandise of UniIllorin Energy plant of UniIllorin Bottle water of Abia state Uni TYPICAL IGR SOURCES AT TERTIARY INSTITUTION
  5. THE NEW PARADIGM SHIFT Additional Value Creation (AVC) Government Funding IGR (as is) Success This is a sample text. Insert your desired text here. Again, this is a dummy text, enter your own text here. This is a sample text. Insert your desired text here. Again, this is a dummy text, enter your own text here. This is a sample text. Insert your desired text here.
  6. INTEGRATED VALUE Integrated value is the simultaneous building of multiple ‘non-financial’ capitals through synergistic innovation across the nexus economy that result in net-positive effects, thus making our world more secure, smart, shared, sustainable and satisfying. What is integrated value Why Is It Important In Revenue Generation Value creation is so fundamental to our human belief systems that we intuitively feel that it is a worthy, if not an imperative goal, whether in our personal and family lives, our careers and institutions, or our communities and societies. It is in fact one of our most powerful myths. Creating something worthwhile or better – something of value – is the professed, if not the actual aspiration of almost everyone.
  7. THREE PILLARS OF AVC Educate students for career success o Expand applied research to enrich teaching and learning o Promote sport and athletics o Develop partnerships with international educational institutions Transform lives and communities through learning o Apprenticeship training o Create CSR impact o Local industry o Indigenous entrepreneurship Develop strategic Partnership with Government oValue oImpact oDialogue
  8. Policy Thrusts of AVC in Higher Institutions Encourage Partnerships AVC Integrate Technology Pursue Excellence Commit to student success Commit to access This is a sample text. Insert your desired text here. Again, this is a dummy text, enter your own text here. This is a sample text. Insert your desired text here. Again, this is a dummy text, enter your own text here. This is a sample text. Insert your desired text here.
  9. THE CHALLENGES • The changing structure of higher education • The competitive landscape • Protecting academic quality • Cost vs access • Learning outcomes • Technology • Value system • Politics & Governance
  10. Gown/town handshake Feed the “town” with “gown” Match the “gown” to the “town” Visibility – Results Organizational capacity Org strength Learning excellence Process automation Create Optics – T &A. IMPACT Strategic partnerships Grants and endowments CSR. STRATEGY The ways and means
  11. EFFECTIVE WAYS OF GENERATING IGR IN NIGERIA TERTIARY INSTITUTION Match the “Gown” to the “Town” • Establishment of entrepreneurship training centres • Streamline academic programs to have market acceptance • Expand field experience opportunities for students • Increase program choice and availability • Expand program offerings in high-demand, career-specific areas • Align curriculum renewal and development with industry trends Strategic partnership • Partnership programmes or collaboration with othe institutions . • Being open to partnership opportunities Transparency and accountability • Improve accountability within the institutions. • Account for additional revenue • Achieve an annual balanced budget • Segmental reporting • Full compliance and disclosure Grants and endowments • Alumni associations. • Research Process automation • The adoption of e-payment of school fees and online registrations . • Creating a more effective student recruitment and enrolment
  12. Feed The Town With The Gown Resource development leads to financial stability • Apprenticeship training • Basic and essential skill training • Continuing education • Corporate training Learning excellence • Enhance academic quality and occupational relevance • Prepare FPI students for global workplace • Use technology to enhance effectiveness of teaching and learning • Strengthen curriculum for improved workplace preparation of students Create CSR impact • Provide opportunities for students in the community and catchment area • Help relieve financial strain on students Organizational strength • Strengthen partnerships • Develop a result- driven workplace culture • Increase organizational capability through people development • Ensure strong brand recognition of FPI • Increase use of information analysis and planning in decision making • Enhance diversity awareness and open up professional development opportunities EFFECTIVE WAYS OF GENERATING IGR IN NIGERIA TERTIARY INSTITUTION (ILARO POLYTECHNIC) AFTER COVID?
  13. • The economic theory that says human wants are unlimited, but the means of satisfying them are limited” has remained an undisputed fact, thus the increasing growth in student’s enrolment and the available resources in the higher institutions are not sufficient to meet up with the funding requirements. • The boosting of higher education in Nigeria needs to be improved upon especially in the area of capital expenditures funding. • Higher institutions need to explore alternative means of funding and become less dependent on Government allocations. • Stakeholders in education which include parents, guardians, the general public, non-governmental agencies, international partners and the private sector should support the funding of tertiary education in Nigeria. Conclusion
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