Why we increase school fees by 100% – IMT Enugu Rector open up

Why we increase school fees by 100% - IMT Enugu Rector open up

The rector of Institute of Management and Technology IMT Enugu, Prof. Nweze explained that the fee increment was necessitated by the prevailing fiscal realities of the Institute, including the fact that the two major sources of funds to the institute is government subvention and tuition.

The rector explained that while the monthly subvention from the government to IMT is N120m, its average monthly wage bill of the Institute stands at N175m, a situation which leaves the institution at a monthly deficit of a sum of N55m thereby amounting to a yearly deficit of N660m expected to be balanced out by tuition.

The rector maintained that the only working way by which IMT effectively balances out this deficit is through her admissions as it admits an average of 8000 students per session.

He however regretted that Jamb came up with a new regulation against over admission and has specifically given IMT a limit of 2980 approximately 3000 students per session.

“IMT is invariably losing out 5000 students from its admission capacity and this new reality imposes serious financial strains on the Institutions,” he said, adding that the increment, therefore, became necessary in order to keep IMT running and at standard.

“If the N175m average wage bill of IMT had the capacity to carry 8000 new students then with the reduction by Jamb to 3000, there should be a way concession can be made on the average wage bill,” he said.

Journalist101 reported that, the National Association of Nigerian Students, NANS, has suspended its planned protest at the Institute of Management Technology, IMT, as it continues to push for the institution’s management to reverse its recent hike in tuition fees.

Recall that the institute had announced 100% fees increase for fresh students in the National Diploma programme, ND 1, a development which the NANS described as unacceptable, threatening to embark on a protest should the management refuse to reverse its decision.

During a meeting held between a high-powered delegation of NANS and the management team of IMT at the International Conference Center of the institute led by the Rector, Prof. Austin Nweze on Tuesday, the leadership of NANS maintained its earlier stand, noting that the students will be ready to accept a not more than N5000 increment in tuition across the board as their own concession.

Speaking during the meeting, Chairman of the NANS, Enugu State Chapter, Comr. Ikechukwu Emmanuel said that it is highly unfair for students of the institution to be outrageously burdened by a 100% increment intuition.

“Given the new scenario, it is expected that all parties involved in the business of Education (Government, Management and Students) should all make concessions so that no party is overburdened,” he said.

He explained that although the association understands that the cost of running a higher institution as large as IMT is enormous, the institution over the years has effectively breached the gap between the rich and poor when it comes to access to quality education, adding that such gap of service to reasonable humanity is what IMT is inadvertently trying to desert by this increment.

While commending the state government for its Students Scholarships and the infrastructural developments, Emmanuel appealed that more attention is given to the subvention of the institution.

“This is because an increase in the subvention would creatively lessen the burden on students,” he said, adding that the management and governing Council of IMT should also explore other means of generating internal revenue.

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