The University of Nairobi is facing a serious financial crisis after state funding and contributions from students shrunk to worrying levels. The oldest university in Kenya is even unable to pay suppliers, support staff and finance essential projects.
Auditor General, Edward Ouko has revealed that the university has been unable to pay NSSF, NHIF, HELB and even submit returns to the Kenya Revenue Authority.Mr Ouko further stated that the institution has a deficit of Ksh 2.6 billion and is currently operating on bank overdrafts.
The university is expected to accumulate even more debt after it emerged that the number of students who would be admitted to the institution will shrink to as low as 30 % of the normal admission figures. This follows dismal performance which was experienced in the 2016 KCSE examination. This means that revenue will reduce drastically as debt surges.
Currently several universities across the country are facing the same crisis; Technical University of Kenya,Moi University and KCA University are among the institutions facing serious financial crisis.
