The Chairman, Association Of Nigeria Universities Alumni (ANUA), Dr. Stephen Olawale Fasakin, has charged the Nigeria’s citadel of learning to fashion out other ways of deriving sources to sustain their respective academic environment.
Dr. Fasakin stated this in his opening remarks during the 3rd Quarterly Conference of the association held at Veritas University, Abuja, (VUNA) On 20th October, 2023.
According to him, the insufficient funding is seriously hampering development of tertiary institutions in Nigeria.
“Funding is absolutely critical to qualitative and quantitative development of our tertiary institutions as has been well demonstrated in other parts of the world.
“The growing paucity of funds available to our universities, particularly for capital development, research and faculty training is therefore, cause for grave concern.
“It is time to honestly admit that, despite all the good intentions of the government, funding gap in our federal and state universities will likely grow, not reduce, in the short and probably medium term,” he said.
He therefore suggested that universities must develop other sources of funding in order to keep school fees to levels that is affordable for the majority of students.
While noting the inadequate funding on the part of the government, ANUA chairman called on universities’ Alumni members to lending supports as a way of giving back to their respective Alma maters, saying
this a major area for serious Alumni intervention.
He added, “It is an important mark of loyalty to our Alma Matter, an indication of financial stability derived from the good education we received, and a willingness to help future students of the Alma Mater. For example, an Alumni Association with an active membership of 100,000 who can afford to pay #12,000:00 per annum each will generate N1.2 billion a year for the Alma Matter. A steady flow of such amount, annually, can be quite significant in impact, including putting away some money in long time investments against rainy day. But, this is merely a base estimate since far more can be raised with better imagination and outreach to high net work,” he explained.
Fasakin further stated that “besides financial support, Alumni also could volunteer their time to serve their Alma Mater in various ways, such as part time lecturers, career guidance councellors and mentors for undergraduate and graduate students, members of the Governing Council and other working Committees of the university, and active leadership of the alumni association as all of us are doing.
“Other areas that alumni associations can usefully intervene on behalf of the Alma Mater; include leveraging corporate bodies for endowment funding and partnerships for professional development patronage and access within the circles of government, acting as lobby groups on public matters, promoting good order, social and industrial peace and harmony in the Alma Mater, moral and ethical rectitude amongst students, faculty and staff. To achieve all of this there must be a permanent seat for the president of all Alumni Association in Nigeria in the governing council of their Alma Mater to enable them have a first hand information as to the needs of their Alma Mater, I strongly advise that this areas should be looked into where it is non existing,” he concluded.
