Government alone cannot fund varsities —LASU VC

THE vice chancellor of the Lagos State University (LASU), Professor ’Lanre Fagbohun, has called for a greater collaboration between institutions of higher learning and the larger society.

While describing the relationship between both sides as symbiotic, Fagbohun noted that an investment in higher education is a critical step towards securing the future.

While speaking last week at the maiden lecture of the university’s Directorate of Advancement (LASUDA), Fagbohun said the task of funding tertiary institutions should not be left for the government alone.

“This university is yours,” he said. “Government alone cannot fund the university. That is why we established this advancement office (LASUDA). It was set up to generate fund for the university. If we don’t have the funds to train our children, they will not become what we want them to be. They are supposed to be competing with their counterparts from Harvard and Yale, and the facilities are not the same.”

While delivering the lecture entitled ‘New Foreign Exchange Policy: Myths and Implications’, Mr Henry OlujimiBoyo, an economist and columnist, called for an urgent “restructuring” of Nigeria’s monetary framework.

“In truth, Vision 20:2020 will continue to be a mirage for as long as we retain the current poisonous monetary payment system,” he added.

The director of the newly established LASUDA, Professor Ibiyemi Olatunji-Bello, had during the official launch of the unit, the previous week, said LASUDA was inaugurated to secure philanthropic support for the university, formulate strategies for attracting donations, coordinate the university’s endowment and fundraising activities and interface with the alumni association.

“Students are the ultimate beneficiaries of these schemes, as this will enable the university to facilitate endowment payment to scholars, indigent students and sportsmen. Facilities on campus will also be upgraded to state-of-the-art status. The benefits clearly outweigh the financial cost on the students,” she said.