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    MarketForces Africa » MarketForces News » Don Seeks More Funding for Public Universities in Nigeria

    Don Seeks More Funding for Public Universities in Nigeria

    Julius AlagbeBy Julius AlagbeMarch 24, 2024 News No Comments3 Mins Read
    Don Seeks More Funding for Public Universities in Nigeria
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    Don Seeks More Funding for Public Universities in Nigeria

     Prof. Olu Obafemi, the Pro-Chancellor and Chairman, Governing Council, Federal University of Technology (FUT), Minna, has called on the Federal Government to adequately fund public universities in the country.

    Obafemi, a renowned Poet, made the call while delivering a Public Lecture organised by the University of Jos Chapter of the Academic Staff Union of Universities (ASUU) in Jos.

    The public lecture had the theme ”Government’s Commitment to Funding Public Universities in Nigeria: The Past the Present and Future”.

    The don, who said that the current budgetary allocation for education in the country was grossly inadequate, insisted that proper funding would prevent Nigerians from moving to other countries in search of university degrees.

    ”According to UNESCO standard, budgetary allocation for education should be 26 per cent, but over the years, our budget for education has never gone beyond eight per cent. Infact, the 2024 budget for education is seven per cent.

    ”Over 70 per cent of the crisis within the university education is caused by poor funding and mismanagement of resources and the struggle to make government to right the wrongs has been the reason for the incessant strikes, particularly by ASUU.

    ”Poor funding is a major impediment toward the growth of public universities and this is why Nigerians send their children to Europe or poorer African countries to acquire university degrees,” he said.

    Earlier, Prof Emmanuel Osadeke, the National President of ASUU, had commended the chapter for organising the public lecture to mark its 2024 Heroe’s Day.

    Osadeke explained that the day was set aside to remember fallen colleagues, particularly those who died for the cause of the union.

    The national president, who commended the federal government for excluding universities from the Treasure Single Account (TSA), however, said that more is needed to be done to better the lots of public univerties and education in general.

    ”We have been struggling for years, but nothing has changed. Lecturers do not need palliative from government but proper funding that will guarantee good welfare packages for them.

    ”Today, a university professor in Nigeria earn less than $200 dollars while a lecturer takes less than $50 dollars,” he lamented.

    On his part, Prof. Tanko Ishaya, the Vice Chancellor of the University of Jos, promised to support the struggle by ASUU toward tackling the challenges facing public universities in the country.

    ”If not for ASUU, public universities would have been grounded just like public primary and secondary education.

    ”So, government must ensure absolute autonomy for the university system; that will enable managers of these institutions run them effectively,” he said

    The occasion was chaired by Prof. Monday Mwangvwat, a one-time Vice Chancellor of the University of Jos. #Don Seeks More Funding for Public Universities in Nigeria

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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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