‘Private varsities need alternative funding sources’

A former Director General of the Nigeria Institute of Advanced Legal Studies, Professor Epiphany Azinge, has urged private universities in the country to look for alternative avenues of financing. He made the call at the Igbinedion University, Okada during the 85th birthday lecture in honour of the chancellor, Chief Gabriel Igbinedion, the Esama of Benin. […]

A former Director General of the Nigeria Institute of Advanced Legal Studies, Professor Epiphany Azinge, has urged private universities in the country to look for alternative avenues of financing.

He made the call at the Igbinedion University, Okada during the 85th birthday lecture in honour of the chancellor, Chief Gabriel Igbinedion, the Esama of Benin.

“For  private  institutions to generate funding for their growth, they should leverage on their  alumni  by networking and use them as veritable tools for growing the university.  IUO has over 10,000 graduates and they can leverage on them to attract funds,” Prof. Azinge said.

He said private institutions could also establish private businesses such as printing press to attract commercial printing, place emphasis on vibrant consultancy outfits and universally managed enterprises that can form the bedrock of attracting funding.

“I also propose that endowment fund such as professional chair endowment and other forms of endowment be set up. This can go a long way in attracting funds and infrastructural development,” he said.