In an interview with Akeem Alao, Prince Adejuwon C. Adeleye David (ACAD) shared insightful perspectives on the challenges and strategies employed by ACAD SCHOOLS GROUP (ASG) amidst the current economic crisis in Nigeria. As the Director/Proprietor, Prince ACAD discussed the impact on school budgeting, resource allocation, tuition adjustments, staff morale, enrollment patterns, community engagement, and long-term sustainability plans. His commitment to maintaining educational standards while addressing financial constraints offers a compelling look into the resilience and adaptability of private schools in challenging times.
Could you please introduce yourself?
My name is Prince Adejuwon C. Adeleye David (ACAD), I am the Director/ Proprietor of ACAD SCHOOLS GROUP (ASG) located in Ogijo-Sagamu, Ogun State. I have been teaching since 1993.
How has the current economic crisis affected your school budgeting, and what strategies have you implemented to manage financial challenges?
In the face of the current economic situation in Nigeria, several schools have faced a serious reduction in population as parents have decided to take their children/wards to public schools. The impact of this action cannot be overemphasized as it affects budgets, development, maintenance, etc. However, what we have decided to do is to reduce the school fees. That way, the parents are made to know that we feel their pain and we have put ourselves in their shoes. We also increased the percentage of the school fees we give to our staff who have children in the school.
In light of economic constraints, how are you prioritizing resource allocation to ensure that critical areas such as teacher salaries, student programs, and infrastructure maintenance are adequately funded?
In light of the current economic downturns, we have decided to focus mainly on those areas that are predominantly important, such as staff salary and core/critical maintenance. The current state of insecurity is also dealing with us. We have serious issues with burglars coming overnight to steal the fans and other electronics in the classrooms. They also stole the pumping machine from the boreholes and broke into the offices. We have had to replace all these important things, thereby further depleting the already meager resources. Going by this, it has become imperative for us to source for external funding. This means, therefore, that we shall be relying on private funds from the Proprietor in order to survive.
Have you had to adjust tuition fees in response to the economic situation? If so, how are you balancing the need to maintain school revenue with the financial constraints faced by families?
Yes, we took off 20% of the school fees for all the parents in order for us to retain the population and by so doing attracted others who are looking for cheaper schools for their children without compromising the educational standards.
With economic pressures potentially affecting staff morale and retention, what measures are you taking to support and motivate your teaching and administrative staff?
In order to cushion the effects of inflation on our staff, we increased the salaries with 50% basic across the board. This serves to motivate them and to keep them in their current capacity. It did affect profitability, but we are not intent on just making profits while the members of staff are disgruntled.
Have you noticed any changes in enrollment patterns due to the economic crisis, and how is your school adapting to these changes?
There has been a 50% decrease in enrollment in this academic session. Normally, we do have an enrollment of about 50 to 60 students into JSS 1 within September, but we have only 30 students as of October. Hence, we have decided to reduce the arms of each class.
How is your school engaging with the local community and stakeholders to navigate the economic challenges collectively?
ACAD SCHOOLS is very involved in CSR, but we do it in such a way that it is a continuum. We usually give scholarships to students every academic session, and we did not allow the current situation to deter us from doing the same this year.
What long-term strategies are you considering to ensure the sustainability and growth of your school despite the current economic uncertainties?
We intend to reach out to more families. We are planning to make summer classes free again next year, just like we did at the end of the last session. We are working on making learning more fun and engaging than before. We are currently working on integrating the Chinese and Japanese systems of education into our curriculum in order to develop more self-reliant students. It will take time, but I assure you, the results will be astounding.
Thank you in advance for your valuable time and insights. I look forward to your contributions to this important discussion.
Thanks for the privilege of talking to you. I am Prince ACAD
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