Fidelity bank banner Newsexpress banner Okowa 2019 gubernatorial campaign Camano banner
FG to raise funds from capital market to fund universities

By Bisi Oladele and Yinka Adeniran on 18/11/2018

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 732

•Vice President Osinbajo
•Vice President Osinbajo

Striking university lecturers and other stakeholders in education sector were told a bitter truth yesterday: Federal government does not have the financial ability to plug funding shortfall in Nigerian universities.

President Muhammadu Buhari, who made the revelation at the convocation of the University of Ibadan which coincided with the institution’s 70th anniversary, said the federal government will therefore raise funds from the capital market to fund universities.

Buhari, who was represented by the Vice President, Prof. Yemi Osinbajo, acknowledged that university education was really being under-funded, and that the Academic Staff Union of Universities (ASUU) has a point for their ongoing strike, however, pleaded that the institutions should leverage on alumni and partnership with the private sector to provide the needed succour.

Osinbajo revealed that some of the options that the federal government was working on “are the details of education funding for the public universities, which will involve raising funds from the capital market to give a push to the infrastructure in our universities. The ongoing talks with the ASUU as you know are follow-up of the chequered history of negotiations concluded with the government in 2013.”

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.”

Excerpted from Nation report

Source News Express

Posted 18/11/2018 09:48:08 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Tiger Woods loses $9m in golf exhibition match...

Ekwunife floors Umeh at election tribunal; Buruji Kashamu...

Washington Post Editor to speak at AUN

Army begins search for missing General in Plateau...

Israel loses secretive oil pipeline case to Iran,...

2015:INEC rejects Folarin as PDP gov candidate

Buhari rejects N400 million cars

NANS finally wins the battle for mobilisation of...

I hold the key to future prosperity and...

Russia threatens world war

Ayogu Eze wins Enugu APC guber ticket, draws...

Appoint substantive board for SEC, stakeholders urge FG...

 

Latest News Buhari floors Atiku in Adamawa and in Obasanjo’s polling unit Boko Haram stops Governor from voting Drama as officials arrive at polling unit in Abuja with thumb-printed ballot papers Ballot boxes set ablaze in Lagos Political thugs kill 2 brothers, cousin in Rivers INEC extends polling by lost hours Woman stabbed in fight at polling unit in Osun state Card reader fails to accredit Agbaje Onitsha school principal speaks on student stoned to death by classmate Police confirm killing of voter in Kogi Jos voters arrive polling units early with chairs, food INEC ad-hoc staff desert polling centre in Ibadan

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (452,402 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (405,894 views) Shameless Genevieve Nnaji exposes breasts in public (340,918 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (292,736 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (257,412 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (234,233 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (219,412 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (201,076 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (188,630 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (174,995 views) Lagos plane crash: Journalist releases victims’ names (173,196 views) 10 cars more expensive than Jets (168,639 views)

 

NLNG call for entries

CBN banner

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (81) Business & Economy (4,033) Business Verdict (58) Columnists (999) Complaints & Requests (95) Enterprise & Opportunities (208) Entertainment (592) Features (716) Global Business Monitor (326) ICT Monitor (13) International (3,116) Interview (173) Live Commentary (28) Love Matters (152) Maggie's Blog (159) News (43,411) Opinion (1,197) Pidgin (17) Politics (9,635) Religion (952) Sports (1,900) Stock Watch (37) AMA & Al Jazeera Global Update

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera