High cost of living: More school fees burden on parents
By Adesina Wahab When his son was offered admission by the Federal University of Technology, Akure, FUTA, Ondo State, Michael Olufemi did not expect what he got as the fees to pay for sundry items. First, he had to pay N50,000 Acceptance Fee for his son, and when the university’s portal was opened for the new students to start registering, he got a bill of over N108,000. Just a couple of years ago, Grace Alade, who was admitted by the same school, paid N20,000 as Acceptance Fee and for others, she paid less than N45,000 to register as a bonafide student of the university. Things have changed. However, the increase is coming at a time that the country is experiencing stagflation, a situation described by economists as a combination of high inflation and economic stagnation. Recent government policies to kick-start the economy such as the removal of subsidy on petrol, have also worsened the economic conditions of parents. Many tertiary institutions in the country have hiked se...