From Felix Ikem, Nsukka
The Executive Secretary of the Tertiary Education Trust Fund (TETFund) Mr. Sonny Echono has said that over-dependence on Government for funding is affecting public universities in the country.
Echono said this in Nsukka on Friday while delivering the University of Nigeria, Nsukka (UNN) 51st Convocation Lecture titled; “University Autonomy and the Challenge of Sustainable Education Funding in Nigeria.”
He said that the future of university education in Nigeria lies in sustainable funding, which according to him has heightened the need to explore innovative and sustainable funding models for university education in the country.
“Public universities suffer from over-dependence on government. They are therefore susceptible to revenue shortfall, budgetary constraints, and other competing needs of the government.
“A regime of declining revenue and rising corruption manifests in deteriorating infrastructure and poor remuneration for lecturers.
“The incessant industrial actions over the last few years by staff unions in our universities, bordering on challenges of funding, has heightened the need to explore innovative, sustainable funding which implies rethinking stakeholders’ involvement in education financing to secure a qualitative and functional tertiary education system, which is an essential tool for sustainable development,” he said.
Speaking further, the TETFund Boss urged universities to go into the core business of education delivery, research, and services such as consultancy, clinical medical services, agribusiness, technology parks, and innovation hubs that would be self-financing and generate surplus revenue.
“Our universities should be encouraged and supported to seek alternative and additional revenue sources by developing a range of pathways and mechanisms, including ventures related to their services that would be self-financing to generate surplus to the university and similar initiatives,” he said
In a remark, Prof Charles Igwe, the Vice-Chancellor of UNN said that the convocation was for the purpose of conferring the Bachelor’s degree and Diploma of the University on deserving graduands of the 2020/2021 class.
“A total of 11,494 Bachelor’s degrees of the University of Nigeria will be awarded at the 51st convocation ceremony. Out of this number, 288 graduates have earned First Class (Honours) degrees.
“Similarly, 4,853 graduands will be conferred with the Second Class Honours (Upper Division) degrees of the University, while 5,077 graduands will be conferred with the Second Class (Lower Division) degrees of the University.
“In addition, 653 graduands will be awarded the Third Class Honours degrees, while 7 persons will earn the Pass degree of the University, also 616 graduands will be awarded the Unclassified degrees of the University, a total of 67 diplomas will also be awarded,” he said.
The VC, who urged the graduands to remain true ambassadors of the University reminded them that their graduation from the institution should imply the end of their relationship with UNN, their alma mater
Also in a remark, the Chancellor of UNN, Oba Adeyeye Ogunwusi, the Ooni of Ife congratulated the graduates and their families for the great achievement of earning the degree of Nigeria’s number one university.
The Chancellor expressed appreciation for the large number of degrees being awarded at the 51st convocation.
“This is the confirmation that UNN is a growing institution, where both staff and students work hard.
“I am happy the University of Nigeria has remained a good breeding ground for good quality and dependable workforce which we need to develop our country and the world in general,” he said.
Chikwado Urama from the Department of Soil Science was announced as the overall best-graduating student with a total Grade Point Average (GDP) of 4.99.
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