• Latest
  • Trending
FG to raise funds from capital market to fund Nigerian varsities

FG to raise funds from capital market to fund Nigerian varsities

4 years ago
It’ll be shameful for northern APC governors to work against Tinubu- Nasarawa gov

It’ll be shameful for northern APC governors to work against Tinubu- Nasarawa gov

2 hours ago
#EndSARS: 1,993 inmates escaped from Edo custodial facilities, says FG

FG: 159 Nigerians renounce citizenship in 2022

8 hours ago
Again, ICPC arrests ex-JAMB Registrar, Ojerinde

Again, ICPC arrests ex-JAMB Registrar, Ojerinde

9 hours ago
Senator: Direct primary was Gbajabiamila’s idea to favour someone

Naira redesign: Gbajabiamila threatens Emefiele with arrest

10 hours ago
Never again shall 16 years of nothingness come back- Tinubu hits PDP

Tinubu to Atiku: You can’t pitch me against Buhari

11 hours ago
Fire guts four-storey building at Balogun market, destroys goods worth millions of naira

Fire guts four-storey building at Balogun market, destroys goods worth millions of naira

12 hours ago
Funke Akindele chased out of Lagos market, PDP fumes

Funke Akindele chased out of Lagos market, PDP fumes

17 hours ago
Buhari appoints ex-IGP Arase police service commission chairman

Ibadan chiefs, mogajis congratulate Arase, say appointment as PSC chairman well deserved

1 day ago
South African Police officer found guilty of killing Nigerian

Experts to FG: Create state police to tackle banditry, kidnappings, terrorism, others

1 day ago
BREAKING: Abia PDP governorship candidate, Ikonne is dead

BREAKING: Abia PDP governorship candidate, Ikonne is dead

1 day ago
Nigerian singer, Adekunle Gold acquires new Range Rover

Nigerian singer, Adekunle Gold acquires new Range Rover

1 day ago
CBN deadline: Ortom appeals for extension, says ‘I’m yet to see new naira notes’

CBN deadline: Ortom appeals for extension, says ‘I’m yet to see new naira notes’

1 day ago
Tems becomes first Nigerian artiste nominated for Oscar Award

Tems becomes first Nigerian artiste nominated for Oscar Award

2 days ago
Wike: Why we are not campaigning for PDP presidential candidate in Rivers

Wike: Why we are not campaigning for PDP presidential candidate in Rivers

2 days ago
PERFORMANCE TRACK: Hon Akin Alabi recommends constituents for jobs in private, government establishments

PERFORMANCE TRACK: Hon Akin Alabi recommends constituents for jobs in private, government establishments

2 days ago
Nigeria joins international community to observe 2023 Global Data Privacy Day

Nigeria joins international community to observe 2023 Global Data Privacy Day

2 days ago
Drama as woman quits marriage, marries daughter’s suitor

Drama as woman quits marriage, marries daughter’s suitor

2 days ago
Police redeploy Zamfara DPO for allegedly working with bandits

Policeman rejects N1m bribe to release suspect arrested for kidnapping

2 days ago
  • Contact Us
  • Advertise
Friday, January 27, 2023
Newspeakonline
  • Home
  • Politics
  • Business
  • Entertainment
  • Technology
  • World
    • Africa
    • Americas
    • Asia
    • Europe
  • Opinion
  • Interview
  • Newspeak ExclusivesNew
No Result
View All Result
  • Home
  • Politics
  • Business
  • Entertainment
  • Technology
  • World
    • Africa
    • Americas
    • Asia
    • Europe
  • Opinion
  • Interview
  • Newspeak ExclusivesNew
No Result
View All Result
Newspeak
UBA
Home Politics

FG to raise funds from capital market to fund Nigerian varsities

Patrick Akpu by Patrick Akpu
November 17, 2018
in Politics
Reading Time: 4 mins read
250 8
0
FG to raise funds from capital market to fund Nigerian varsities

University of Ibadan convocation

Share on FacebookShare on TwitterShare on WhatsAppShare on Telegram

President Muhammadu Buhari on Saturday stated that Nigerian universities cannot be fully funded from the country’s budget, hence the need for creativity on the part of the universities as well as the government.

RelatedPosts

UI ASUU re-elects Ayo Akinwole as chairman

FG finalises CONUA registration, urges union ‘not to behave like ASUU’

ASUU may drag FG to court over withheld salaries

He said this at the convocation ceremony of the University of Ibadan which coincided with the institution’s 70th anniversary.

Buhari, who was represented by the Vice President, Prof. Yemi Osinbajo, acknowledged that the Academic Staff Union of Universities (ASUU) has a point for their ongoing strike, but, pleaded that the institution’s look at several funding options which include leveraging on alumni and partnership with the private sector.

He stated that government was already considering several options, some of which
“will involve raising funds from the capital market to give a push to the infrastructure in our universities.”

He added: “There is no question that ASUU has a point. However, we must seek to resolve amicably and with minimum disruption to the academic calendar. The issue really is that there is no doubt whatsoever that education is under-funded and we must fund it even with the best. But even with the best effort at attending to funding education from the budget, it is completely impossible to do so.

“None of the universities, especially in the free world, is fully or even substantially funded by the government. The task of fund-raising is precisely what the universities are established to do; to solve problems and to create solutions that uplift the society. We can creatively address the issue looking at other solutions around the world. One of the solutions that we must explore is alumni network. There is perhaps no university in Nigeria that has the kind of alumni network today that the University of Ibadan has.

“There must be ways to cultivate this alumni network at home and in the Diaspora and to get them to support the universities. In this digital era, things have been made a lot easier to keep in touch with the large number of people around the world to pass information that will convert it to philanthropy.”

While lauding the outstanding achievements of the University in the past 70 years with the production of many academics in various fields of study with their pioneering work in research and development, Osinbajo added that “every generation is, whether it knows it or not, equipped to deal with the challenges of its times and to hand over a legacy to enable the next generation to navigate its own journey with greater ease. University is of course a place where the direction and instruction must come.

“There are, in my opinion four big issues that call for incisive thinking, that will be able to solve the problem. The first is the population challenge and the opportunities. The second challenge is the climate change and the threat of desertification. Today, Lake Chad which used to be about 35,000 square meters is now 1,350 square metres and several other signs of desertification.

“The third is the education challenge. That is how to chart a course for the education of these young people for the competitive globalised knowledge economy. Also is how to equip teachers with the skills required, and the numbers that are required to train the very many millions coming behind us. How do we fund education to prevent the slide in standards in the past two decades and the frequent disruptions of their educational calendar due to strikes?

“Taking the first issue, it is evident that technology has radically changed both the challenges and opportunities in education, giving the limited resources and gaps in the educational attainment in our country. It was clear to us that as a government, we have to change both the substance of, and also the way our children receive education. In other words, the efforts by which our children are taught. We identified every stage investments in primary and secondary school education as being key to a knowledge-based economy.

“How do we train teachers quickly and efficiently aside from the traditional teacher training institutes which must be refitted to deal with the new technology-driven federal government. We have hired over 500,000 young men and women for our N-Power programme using the technology developed by our young people. We provided them with electronic tablets for teaching at both rural and urban areas. In the next few years, both teacher training and teaching will be largely driven by technology.

“We all agree, I think, that we cannot hold back technology. But the basic question is that we cannot attain accelerated development without substantial investment in education. All of us today agree that we suffer the consequences of decades of under-investment in education. Turning around this will take time and painstaking effort. This, we are intending to do, especially with tertiary education.”

Earlier, the Chancellor of the university, the Sultan of Sokoto, Alh. Muhammad Sa’ad Abubakar, also commended the premier university for having blazed the trail in research and teaching in virtually all branches of knowledge in the last 70 years. He said UI’s achievements are globally recognized.

Abubakar noted that universities needed to generate knowledge and research which address societal challenges while matching their products with the need of the society..

While congratulating the graduands, the Vice-Chancellor, Prof. Idowu Olayinka, reminded them that the university and society have high expectations from them.

He disclosed that: “A total of 371 candidates spread over 12 faculties and five Institutes and Centres were admitted into the Doctor of Philosophy Degrees of the university with the Faculty of Arts leading the pack with 64 graduands”.

Other dignitaries at the ceremony include a former military Head of State, Gen. Yakubu Gowon; the Chancellor Nde Waklek Mutka; Minister of Education, Mallam Adamu Adamu, represented by the Registrar of the Joint Admissions and Matriculation Board(JAMB), Prof. Isiaq Olojede; Governor Abiola Ajimobi of Oyo State; Minister of Health, Professor Isaac Adewole; the Olubadan of Ibadanland, Oba Saliu Adetunji (Aje Ogunguniso 1), and the President of the Christian Association of Nigeria (CAN), Dr. Samson Ayokunle.

The 2018 distinguished honorary awardees in various fields for the University included: Chief Bode Akindele (industrialist, the Parakoyi of Ibadanland,), Professor Bolanle Awe (Historian and former Education Commissioner in the Old Oyo State), Professor Olufunmilayo Olapade (Physician), Professor Grace Alele Williams (ex- VC, UNIBEN), Professor Akin Mabogunje, (Geographer), and Professor Omoniyi Adewoye (ex-UI VC).

 

Related

What’s your Reaction?
Like
Like
0
Dislike
Dislike
0
Laugh
Laugh
0
Angry
Angry
0
Sad
Sad
0
Accurate
Accurate
0
0 Shares
Facebook Twitter WhatsApp Linkedin Messenger
×

Share this post!

Facebook Twitter WhatsApp Linkedin Messenger Telegram Tumblr
Tags: ASUUFeatureUniversities

Recent Posts

It’ll be shameful for northern APC governors to work against Tinubu- Nasarawa gov

It’ll be shameful for northern APC governors to work against Tinubu- Nasarawa gov

January 26, 2023
Never again shall 16 years of nothingness come back- Tinubu hits PDP

Tinubu to Atiku: You can’t pitch me against Buhari

January 26, 2023
Funke Akindele chased out of Lagos market, PDP fumes

Funke Akindele chased out of Lagos market, PDP fumes

January 26, 2023
BREAKING: Abia PDP governorship candidate, Ikonne is dead

BREAKING: Abia PDP governorship candidate, Ikonne is dead

January 25, 2023
Wike: Why we are not campaigning for PDP presidential candidate in Rivers

Wike: Why we are not campaigning for PDP presidential candidate in Rivers

January 25, 2023
Naja’atu Mohammed unstable, mole planted in our ‘winning campaign’- APC PCC

Naja’atu Mohammed unstable, mole planted in our ‘winning campaign’- APC PCC

January 24, 2023
APC suspends state congress in Oyo

Presidential campaign: Folarin, Omodewu rally Oyo APC stakeholders

January 23, 2023
JUST IN: DSS reportedly withdraws personnel from Osun governor for insulting officers

Osun PDP commends Adeleke on 100 days agenda

January 22, 2023
Next Post
ASUU to go on strike October 2

ASUU faults FG's plan to raise funds from capital market to fund varsities

Leave a Reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Newspeakonline

© 2020 Newspeak & Associates
Optimized by IChannelTech.

Navigate Site

  • Breaking News
  • Business
  • Entertainment
  • Interview
  • Newpeak Magazine
  • Newspeak Exclusives
  • Politics

Follow Us

No Result
View All Result
  • Home
  • Latest News
  • Politics
  • Business
  • Entertainment
  • Technology
  • World
  • Opinion
  • Interview
  • Newspeak Exclusives

© 2020 Newspeak & Associates
Optimized by IChannelTech.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Newspeak We would like to show you notifications for the latest news and updates.
Dismiss
Allow Notifications