NAVIGATING ECONOMIC DISTURBANCES: CHALLENGES FACED BY PRIVATE EDUCATIONAL INSTITUTIONS IN NIGERIA

The paper explores the impact of economic turbulence on private schools in Nigeria, focusing on the challenges they face and their implications for the quality of education. Nigeria\'s education system is increasingly privatized due to government policies encouraging private investments. Private enterprises, including individuals, business conglomerates, faith-based organizations, and transnational corporations, seek to attract parents dissatisfied with the government\'s focus on education. Public educational institutions face challenges such as population increase, lack of public investment in infrastructure, and highly competitive admission. The research uses a mixed-methods approach, including quantitative surveys and qualitative interviews with parents, teachers, and administrators. Economic factors affecting private schools in Nigeria include inflation with a relative impact index (RII) of 4.08, demographic shifts of 4.06 RII, economic downturns of 3.91 RII, technological disruptions of 3.85 (RII), competition (3.69), and policy changes (3.67). The major impact of economic disturbance is increased operational cost with 20% while both financial instability and an increase in the number of out-of-school children ranked 2nd with 15% each. The paper recommends collaboration between private school operators and the government to improve the private school system, promoting education for all. Diversifying revenue sources and implementing remote learning technology can enhance education quality.