Alternative Funding of Colleges of Education in the Wake of Economic Meltdown in Nigeria (A Case Study of Federal College
of Education Obudu)

Ikwen Augustine PhD; Etah Emmanuel Etah

doi:10.56201/ijssmr.vol.11no8.2025.pg231.255

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Alternative Funding of Colleges of Education in the Wake of Economic Meltdown in Nigeria (A Case Study of Federal College of Education Obudu)

Ikwen Augustine PhD and Etah Emmanuel Etah

Abstract

Funding challenges have remained a major impediment to the growth and sustainability of higher education in Nigeria. Government subventions, which constitute the primary source of revenue for Colleges of Education, have become increasingly inadequate due to economic downturns, competing national priorities, and dwindling public resources. This study examined alternative funding strategies for the Federal College of Education, Obudu, with a view to proposing a practical and sustainable framework for diversifying its revenue base. Specifically, the study sought to (i) examine the trend and adequacy of government funding to the College over the last ten years, (ii) identify potential alternative funding sources suitable for the College, (iii) assess stakeholders’ perceptions and acceptance of alternative funding mechanisms, (iv) evaluate institutional, legal, and administrative barriers to implementing such strategies, and (v) propose a framework for diversifying revenue streams at the College. The study adopted a descriptive survey research design. The population comprised academic and non-academic staff, students, alumni, and management staff of the Federal College of Education, Obudu. A total of 315 respondents were sampled using stratified random sampling. Data were collected through a structured questionnaire and analysed using descriptive statistics such as frequencies, percentages, and means, while chi-square was employed for hypothesis testing. Findings revealed that government funding to the College has been grossly inadequate over the last decade, leading to infrastructural decay, delayed staff salaries, and reduced research output. Stakeholders expressed strong support for alternative funding mechanisms such as alumni contributions, public–private partnerships, commercialization of institutional ventures, agricultural enterprises, and international donor support. However, barriers such as weak institutional capacity, bureaucratic bottlen

Keywords

Funding challengesalternative fundingColleges of Educationpublic–private partnershipsinternally generated revenuealumni support.

References

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Alternative Funding of Colleges of Education in the Wake of Economic Meltdown in Nigeria (A Case Study of Federal College of Education Obudu)

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