Background Of The Study
The Nigerian University Libraries are always making efforts to get sufficient funding in order to bring themselves up to speed with the breadth of their mandated services. When available funds are split among departments, as is the case in many universities, there is not a large amount of money left over for the library to use when purchasing a breadth of materials to cover a wide variety of collection options for the university. This makes it difficult for the library to acquire a depth of materials to cover a comprehensive range of collection options. Even in the best of times, academic libraries in Nigeria do not get the money that would allow them to realize their full potential and become both efficient and successful in their operations. The results of the research and consultation that was carried out by Locality revealed that the majority of Nigerian libraries were not comfortable with the concept of income generation or 'enterprising' activities being carried out within a library context where the aim is to improve library services or innovate library services. In addition, many academic libraries saw the creation of money as crucial to maintaining acceptable levels of service in the context of users' satisfactions, and they highlighted the problems they confront as a consequence of diminishing revenues from 'conventional' value-added services. If a concerted effort were made to significantly scale up one or more of them beyond what can be demonstrated from current practice in Nigeria, then a single approach could not be relied upon when it comes to any income generation strategy for Nigerian academic libraries. This is because a single approach could not be relied upon for any income generation strategy. When compared to a library in a developed nation, an academic library in Nigeria is a nonprofit organization, and its aim is to offer services to the people who utilize the library. The majority of the financial support that academic libraries in Nigeria get comes from the government in the form of appropriations to the ministries or entities that supervise them.
According to Fredrick (2010), the expansion of libraries and information centers in recent years has been hampered by inadequate finances, which have been paired with insufficient money generating from patrons of these libraries and centers. In order for an academic library to properly carry out its statutory tasks, it is essential that the library get engaged in the provision of fee-based services in order to compensate for any financing gaps left by the government and other funding agencies. According to Okiy (2005), who stated that government financing has been inadequate, libraries have been had to search for additional sources of money in order to fulfill the growing sophisticated demand of library users for electronic information services. According to Adebayo (2012), the traditional concept of a library has been redefined. A library is no longer just a place to access paper records or books; rather, it is now a facility that also houses the most cutting-edge electronic resources. These resources include the internet, digital libraries, and remote access to a wide variety of information sources. If an academic library is well organized, one of its goals should be to fulfill its function as a repository of information and knowledge, a dynamic center for research for people, and a dissemination of information to the citizens. This can only be accomplished if the library is able to generate a sufficient amount of income. There is a need for a reexamination of the income generating in Nigerian libraries.
1.2 Statement Of The Problem
There has been a shift toward identifying extra sources of funding as a response to the severe budgetary limitations that all university libraries are forced to operate under. The situation is the same in Nigeria academic libraries, both government and private own libraries, as insufficient funds have adversely impacted library and other information services. This is the case in both public and private libraries. When it comes to public colleges, the grant money is given to the university committee by the government in monthly or quarterly installments depending on the circumstances. This strategy has not been helpful in meeting the financial requirements of the library in a timely manner. The majority of the time, the administration of the library will only acquire a small number of books and journals in comparison to the quantity that is necessary even if the available funds are sufficient and easy to reach. Because there is not enough money, a big number of collections of broken down computers and other information technology facilities are not maintained correctly. Last but not least, the workers of the library were prevented from attending workshops, seminars, and conferences due to a lack of funding, which prevented them from increasing their productivity and professional level. Therefore, the purpose of this research is to analyze the ways in which university libraries in Nigeria generate money.
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