Management of funds in academic and research libraries in southwestern Nigeria: a study of some selected libraries

Abstract

This study investigated management of funds in academic and research institutes libraries in Southwestern Nigeria. Survey research design was used for the study. Data was collected with the use of questionnaire designed for the study from some selected universities and research libraries. Data collected were analysed with descriptive statistics. The results revealed that academic and research libraries mostly generate funds from government allocation (100%), gifts (76%), library fee (72%) and endowment fund (44%). On ways of managing funds, the university librarians and Institute librarians (56%) as well as sectional librarians (52%) manage funds. Furthermore, 10% as well as 5%of government allocation gets to the library depending on the management of the institutions. Corruption, economic recession, government policies constituted major constraints to management of funds. Finally, understanding of work policies, accountability, setting of priority right and attendance at management training were recommended to solve the problems discovered.

Keywords: Management, Funds, Academic, Research, Libraries