Vice President Yemi Osinbajo has stated that for the reason that budgetary allocations on my own can not maintain the working of public universities, the way forward for the college device depends upon the adoption of impartial however inventive resources of investment, together with the established order of an endowment fund.

Osinbajo used to be talking on Thursday when he hosted a delegation from the Olabisi Onabanjo University (OOU) on a courtesy talk over with to the Presidential Villa. The crew used to be led by means of the establishment’s Vice Chancellor, Prof. Ayodeji Abgoola.

“Funding within the college device (public universities) needs to be varied. The device has to have the option to maintain itself. We in point of fact have to seem moderately at how universities can earn cash independently. Whether it’s an endowment or every other manner, adopting a industry fashion.

“All of the great universities around the world have endowment funds. Raising money through independent sources for funding university education is a serious matter,” the vp in a observation by means of his media aide, Laolu Akande.

The VP advised the control of OOU to undertake different approaches to investment its actions, noting that “relying on govt on my own or the TETfund for building of infrastructure isn’t sustainable.

“I beg you to create an endowment fund, along with the opposite approaches that you’re going to undertake. Olabisi Onabanjo University can turn into a fashion for others nevertheless it has to have impartial resources of elevating budget.

“There should be serious-minded people running the endowment office. This is the future and way forward for the university system in Nigeria. If you do it well, the university will really excel.”

Earlier in his remarks, Agboola thanked the VP for his selfless contribution to the expansion of the University particularly as a pioneer lecturer within the Faculty of Law, development it from scratch.

He recollected how the VP mentored many regulation scholars on the University and his strengthen in entrenching the tradition of study on the establishment.

The VC additionally made a presentation to the Vice President at the present state of the University, its demanding situations and projections for the long run, looking for extra strengthen, particularly within the space of infrastructure building.

Author: Leadership

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