Sustainable funding crucial for federal varsities’ growth – Prof. Akinwumi

The Vice Chancellor of federal University Lokoja, professor Olayemi Akinwumi says it has become increasingly difficult for the federal government to fund tertiary institutions alone to achieve required standard. Professor Akinwumi disclosed this on Monday at the felele-lokoja campus during an interaction with newsmen as part of activities to mark the 9th convocation ceremony of […]

The Vice Chancellor of federal University Lokoja, professor Olayemi Akinwumi says it has become increasingly difficult for the federal government to fund tertiary institutions alone to achieve required standard.

Professor Akinwumi disclosed this on Monday at the felele-lokoja campus during an interaction with newsmen as part of activities to mark the 9th convocation ceremony of the institution.

The VC Chancellor stressed, indications are abound that without the support of others , the federal government may not be able to provide the needed fund for tertiary institutions to achieve desired academic excellence, with necessary back up of infrastructure and staff

In view of this , he said the institution had to think outside the box when it became obvious that the citadel of learning needs sustainable funding to stay afloat.

According to him, the efforts recorded land mark achievements across various fronts, leading to expansion of faculties and academic programmes, staff welfare and infrastructural transformation.

“Recognizing the need for sustainable funding, our Administration established the FUL Endowment Fund during the 6th and 7th combined convocation ceremonies.

“The fund remains a strategic initiative to support the infrastructure, scholarships, and research .

“I call on corporate bodies, alumni ,and public -spirited individuals to continue supporting this noble vision”, he said .

Professor Akinwumi stressed further that the endowment fund complemented the federal government’s effort, resulting in “tremendous progress in academic, infrastructure,research, innovation , and partnership in the institution”.

Professor Akinwumi who said he is at the twilight of his administration in the institution says , he would have performed better in transforming the varsity into a world class institution, as envisioned, “if the fund is there”.

However, the VC noted that despite inadequate funding, he stands fulfilled for having collectively moved the varsity forward, with a “story of resilience,progress and visioned fulfilled.

“Our progress is evident in the expansion of programmes , the growth of infrasture, and the strengthening of our academic and ethical culture”.

He said under his watch , the variety has been repositioned to address critical national manpower needs and aligns with global educational trends.

“Under my leadership, the university has grown from a modest institution into a mult-faculty university with robust academic offerings.

“Virtually, all newly introduced programmes have been resource – verified and accredited by the National Universities Commission (NUC) and other professional bodies. The MBBS programme is in its final stage of accreditation by the medical and Dental Council of Nigeria ( MDCN)” , he said .

The Vice-Chancellor who said the 9th convocation ceremony, coming up on Saturday marks the final under his administration revealed that 35 out of the 5,051 graduating students for 2024/ 2025 academic session made First Class.

Also, he said 760 earned Second Class Upper Division, 2,287 obtained Second Class Lower, and 383 graduated with Third Class Honours, bringing the total number of undergraduates to 3,456.

Infrastructural transformation include, the construction of solar power plant worth $200m, assisted by REA , AfDB and world bank to generate and distribute 1.7 megawatts to power the Felele-lokoja campus of the University , construction of a four- story for senate, new classroom blocks for students and building for all six faculties ,among others .

“1.72 Megawatt solar power system, will enable the university to generate surplus electricity and achieve energy self-sufficiency, and benefit students and staff for generations to come.

“The solar power project is part of the university’s efforts to promote innovation and sustainability”, said Akinwumi.

Meanwhile, professor Akinwumi has commended the federal and state governments, spiritual individuals and corporate organizations for their contributions to the growth and development of the institution under his administration.