How the cost of building the DAPP can be recovered
In putting up a case for the acceptance and approval of the DAPP, you may be faced with a situation where the PC has already been convinced of the benefits of having a DAPP but remains reluctant due to the cost of obtaining one. This is very likely to be the case for new or very small schools, but is also applicable to big schools having many students.
Should this be the case, one of the most useful properties of a DAPP comes into play: the ease with which the institution can, within a few years, recoup the money spent in building it. Better still, after recovering the capital costs, the DAPP can be further transformed into a viable and sustainable income generation tool for the school. Here is how:
- Our recommended method for funding DAPPs is for institutions to levy the students. The levy will be a very small and affordable amount and may be required as a once only payment or as a periodic payment.
If the school chooses to use the periodic model, the DAPP will also become an on-going source of revenue for it. See these examples for more explanation:
Once only levy: In a school where there are 10,000 students, charging a one-time levy ofN500 yields 10,000 x 500 =N5 million and chargingN1,000 yieldsN10 million naira (which is already the full cost of the DAPP)
Periodic levy: In a school where there are 10,000 students, charging a periodic levy ofN100 per session yieldsN1,000,000 per session. Doubling this levy i.e. requestingN200 per session yields a total ofN2, 000,000 per session. In 5 years, the cost of building the DAPP will have been recovered and from that point, it becomes a viable revenue generation tool for the institution yieldingN2, 000,000 per academic session. Alternatively, after the first general levy, only new entrants may be asked to pay this levy.
Note that these results will, of course become much higher for schools having populations greater than 10,000. For schools where the population is less than 10,000, these results can be matched and even surpassed if the levies in the two scenarios are increased to, say,N1, 500 andN500 respectively.
- Another highly recommended method is to solicit for sponsorship, support and funding from private sector organisations such as banks and telecoms companies. A DAPP is a unique new product in the Education sector of Nigeria. It is built using state-of-the-art technology and it has the potential to cause a paradigm shift in Nigerian education plus it is the first of its kind in Nigeria.
These superb qualities, coupled with the allure of the new age Information craze makes it a very attractive project for the private sector to support as part of their corporate responsibility programs. These companies would be happy to have their brand displayed as sponsors of the DAPP.
On approaching these companies, the deal could be that their logo and brand would be displayed on the DAPP website as sponsors. Now, the DAPP is going to be aggressively exposed and promoted to the whole world so this would also double as a very smart PR move for these companies.
- Mandatory subscription fees from all lecturers and students who also wish to take advantage of the service. This may be a small amount like N2,000 yearly.
- Offering a paid service to academics from other institutions who wish to take advantage of the school’s DAPP to gain international exposure: For those schools and institutions or for private researchers who do not yet own a DAPP, using an existing DAPP would be a convenient way to publish their papers.