The Department of Economics, University of Ibadan (UI), has presented the inaugural Abdul-Lateef Babatunde Ajao Best Graduating Economics Student’s Prize to Idris Tijani of the 2020/2021 academic session.
The prize was instituted by the late Abdul-Lateef Babatunde Ajao’s family and Dr Adeleke Badejo, and comes with a N100,000 cash prize.
At the prize presentation, which took place on Wednesday, the Head of the Department, Professor Adeola Adenikinju, said the prize is a commendation for hard work, will spur healthy competition among students in the department and elongate the memory of late Abdul-Lateef Ajao.
“The award will be an inspiration to students, both current and future undergraduates because it will stimulate some healthy competition among students. This award will be an encouragement for excellence among our students.
“The department appreciates this and we are grateful to the Ajao family for doing this. One way that we can keep the memory of those we love is through this kind of honour that has been done today,” he said.
Olumide Ajao, the first son of the late Abdul-Lateef Ajao, said the prize was instituted by the family in keeping with the legacy and belief of their father. “We see this as a way of immortalising our late father who finished from this department in 1969. It is our own way of giving back to society.
“We can’t take care of everybody but, like they say, little drops of water make an ocean. By doing this, we hope that it encourages others to do the same and good deeds will go round.
“This is the inaugural one and it is on a small scale. We pray that as the years go by it will be bigger and create a healthy competition amongst the students. I congratulate Idris Tijani for being the first recipient of this award and pray it will be one of the many awards he will receive,” Ajao said.
Prof. Akanni Lawanson, who facilitated the setting up of the prize said, “Annually, the winner of the award will be given a cash prize of N100,000. To this end, and to ensure that the award prize is issued to the winner without fail, a trust fund investment has been initiated, being managed by TUL Trust Management Services Limited.
“The understanding agreed with the fund manager is that whoever is the sitting HOD of the department will communicate directly to inform the trustee about the identity of the winner for each year and provide his or her account details for issuance of the award prize to the person.”
Theodore Orjiako of UTL Trust Management Services Limited, while commending the Ajao family for the gesture, charged the prize recipient to aim for greater accomplishments.
Orjiako said, “I have to appreciate the Ajao family for this; it is a noble gesture, it is a way of giving back to the society.
“I will also congratulate Tijani because it is not an easy feat. From talking to a lot of the beneficiaries, we see that there are a lot of challenges. So, to be able to come out as the best graduating students is not easy. We want this to be a peddle stone, let it propel you in life. But also look back, don’t forget where you are coming from.”
The inaugural prize recipient, Idris Tijani, appreciated the family for the honour while noting that it will be an additional motivation to attain success.
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