President Bola Tinubu on Monday, October 23, recommended public-private financing for Nigerian universities.
The president added that with the right mix of public and private financing, Nigerian universities would get the required resources they desperately need to elevate the level of university education in the country.
He made this known in Ilorin, Kwara state capital at the 37th and 38th convocation ceremonies of the University of Ilorin (UNILORIN).
Represented by the Minister of state for Education Yusuf T Sununu, the president called on corporate bodies, communities and individuals to support public universities.
He said: “The practice all over the world is that public universities benefit heavily from government funding but also augment their income through private financing.
“It was in realisation of this that the Federal Government signed into law the Students’ loan which will positively change the landscape of education in Nigeria.
“Our government will continue to champion the cause of impactful education as well as ensuring that both lecturers and students are provided the best facilities to enhance their individual capabilities.”
Tinubu added that the removal of fuel subsidy was done with the best intention of promoting a more sustainable and efficient energy landscape for “our nation as well as ensuring that the development of our nation is not in any way stratified.
“The pain being experienced is undeniable and we emphasize with the difficulties this may be causing in our daily lives.
“While the short-term gains are expected with attendant pains, please look forward to the potential long-term benefits.
“The removal of subsidies can pave way for investments in alternative energy sources, infrastructure and public services that will contribute to a stronger and prosperous Nigeria.
He added: “During this transition, let us remain united as a nation, supporting one another and working collectively towards finding solutions. It is a challenging journey, but by embracing innovation, conserving energy, we can navigate through these difficulties and emerge stronger as a nation.
“Remember, change often comes with its share of hardships, but it is through resilience and cooperation that we can shape a better future for ourselves and generations to come.”
Earlier, UNILORIN Vice Chancellor, Prof Wahab Egbewole hailed the president’s commitment to change the fortunes of tertiary education.
He appreciated the recent gesture of the president and “believe that all the other outstanding issues will be resolved in order to not only increase commitment and productivity in the system, but also achieve the repositioning agenda.”
He added: “we can only hope that the renewed hope agenda will properly reposition the university education.
“Nigeria cannot be a global player if we to treat university education in the manner it is presently.”