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Exploring Revenue Diversification Strategies for Financial Sustainability of Nigeria Police Academy: Experiences from Conventional Universities

Kabiru Umar and Abdullahi Hassan Gorondutse

Abstract

This study explores revenue diversification strategies to enhance the financial sustainability of the Nigeria Police Academy (POLAC), drawing lessons from conventional universities. The research addresses the Academy's heavy reliance on government subventions, which are often insufficient and irregular, posing significant risks to its operational and developmental needs. Using a quantitative approach, the study surveyed 428 academic and non-academic staff from Nigerian universities, employing Partial Least Squares Structural Equation Modelling (PLS- SEM) for data analysis. The findings reveal that revenue diversification strategies significantly improve financial sustainability, with online distance learning, postgraduate programs, research commercialisation, and international collaborations emerging as the most impactful. Conversely, tuition fees, endowments, real estate investments, and auxiliary services showed limited effects, highlighting contextual barriers such as regulatory constraints and underdeveloped alumni networks. Institutional context, particularly government policies and university autonomy, was found to moderate the effectiveness of diversification strategies, while financial, regulatory, and research-related challenges negatively impacted their implementation. The study recommends that universities such as Nigeria Police Academy should prioritise high-return strategies such as online education and research commercialisation, advocating for policy reforms to increase financial autonomy, and fostering stakeholder partnerships. These insights provide a framework for POLAC and similar specialised institutions to achieve financial resilience in resource-constrained environments.

Keywords

Revenue diversificationfinancial sustainabilityNigeria Police Academyhigher education financingresource dependence theory.

References

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