As economic recession bits harder in the country, some private school owners in Lagos State have started putting up their schools for sale as they could no longer cope with the high cost of running them.
According to National Mirror, the President of National Association of Proprietors of Private Schools, NAPPS, Lagos State chapter, Alhaji Kamaldeen Akande disclosed this in an exclusive interview its correspondent.
Akande disclosed that apart from the fact that many private schools have closed down with the hope of resuming operation when economy bounces back, significant numbers of others have sold off their schools in the last six months.
He said if the current poor economic situation, which accounts for many parents inability to pay their children’s school fess was not addressed on time; many more private school owners would still be forced out of business on daily basis.
Akande, who is also the Proprietor of Supreme Pillars College, Badagry, lamented that it was unfortunate that the economic situation had equally compelled many school owners who are members NAPPS to start sending out students who could not pay their school fees from class and this has forced some parents to withdraw their children from private to public schools.
He noted that things were different before recession,adding that NAPPS members were forced to do so for fear of being thrown out of business completely.
He further explained that the situation is being compounded by all kinds of taxes and levies including business premises tax, hackney permit, load and off loading permit, entertainment permit, apart from the annual dues and other charges that government imposed on private schools.
Meanwhile, the Lagos State Government, yesterday, said that over 100,000 Micro, Small and Medium Enterprises, MSMEs, will benefit from the N25billion Employment Trust Fund, within the next three years.
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The Executive Secretary of the Lagos State Employment Trust Fund, LSETF, Mr. Akintunde Oyebode, who disclosed this in Alausa, Ikeja, said the fund was in line with Governor Akinwunmi Ambode’s vision to create employment and entrepreneurship opportunities for all residents.