- As Nigeria’s premier institution, Yaba College of Technology (YABATECH) launched a N50 billion endowment fund, prominent Nigerians have emphasised the need for private support intervention for a sustainable higher education sector.
This was the submission of ex-President, Chief Olusegun Obasanjo, the Vice-President, Professor Yemi Osinbajo, Minister of Education, Mallam Adamu Adamu and Governor Rotimi Akeredolu on Thursday at the launch of a N50 billion endowment fund by the Yaba College of Technology (YABATECH) in Lagos.
The Vice-President, Professor Yemi Osinbajo said higher institutions, as a proven ground for research, learning and best ideas, require all support that can be mustered to make them centres of excellence.
According to him, research and inquiry might lead to a revolutionary discovery or lead to nowhere depending on commitment, saying such requires adequate funding.
“How do you fund world-class, relevant, cutting-edge higher education sustainably? The question has even greater resonance in Africa, where public resources are low and the poverty levels put access to quality education beyond the reach of many.”
The VP, who canvassed support for the 75-year-old college, explained that the N50 billion ambition of the endowment fund captured the vision for the institution and demonstrated the keen awareness of management about what was truly at stake.
He described Yaba College of Technology as one of the best institutions to use as proof of the concept that could, indeed, develop world-class higher institutions for innovation and research using both private and public-sector finance.
“We must augment government’s finest intentions with our individual and collective desire to see us do better, to see Africa do better; to see our children step into global arenas of enormous and unprecedented opportunities.
