At least 15,000 private schools-primary, secondary and university-are backing the launch of a multibillion-dollar fund to help them run their business.
The Private Education Support Trust Fund is to provide funding at low cost and long term to private school owners, who currently depend on high interest commercial loans to fund their operations, according to the group Exam Ethics Marshals International.
“There is as at now no special government intervention fund for private education providers as is the case for private operators in housing, agriculture, road transport, airline, oil and gas and manufacturing sector,” said the group’s project coordinator Patricia Agu.
Exam Ethics is coordinating the initiative nearly six months after it signed a memorandum with the National Association of Proprietors of Private Schools (NAPPS) in April.
At least a third of more than 50,000 private schools nationwide have “already indicated interest to participate in the initiative”, according to the group.
Meanwhile, workshops in private education finance are scheduled across the country, along with a summit to help private school owners learn the ropes of education finance.
