Private school owners in the country have been forced to admit wards into their facilities on credit due to the current economic conditions in the country.
Speaking on the latest development, the Association of Proprietors of Private Schools disclosed that its members have started operating on credit due to the present economic conditions in the country especially in the face of economic recession.
The association, in view of providing quality education to wards in the country, has also instructed its over one million members nationwide not to increase tuition fees because of the economic challenges parents are faced with.
Speaking at a press briefing on Tuesday in Abuja. the President of NAPPS, Dr. Sally Adukwu-Bolujoko also urged the Federal Government to establish an Education Bank similar to the Bank of Industry.
The NAPPS president said: “Many of my good parents don’t have money to pay school fees, I have plenty letters begging me, please let my child stay. One called me this morning from Dubai, saying look, thank God they put me in this trip to Dubai. Whatever they pay me now is what I am leaning on to pay my children’s school fees.
“We insist that we should not reduce quality, we are not increasing school fees. We are bent on managing our costs. In NAPPS, we have asked every school to look inwards and manage our costs.
“My advice is stay afloat, don’t increase school fees, manage your costs. In every recession in the world, there is sack and job losses. We are not going to declare any school bankrupt but we have to manage our costs. Where there are too many hands in some departments and units, some people will have to go, meaning sack.”
