The Federal Government has advised Nigerian colleges to diversify their financing sources in the face of economic downturn.
President Bola Ahmad Tinubu announced this during the 6th and 7th joint convocation ceremonies of Federal University, Dutse, which took place on Saturday.
Professor Kabir Bala, Vice-Chancellor of Ahmadu Bello University in Zaria, represented the administration’s commitment to creating an enabling climate for institutions, although within the restrictions of available resources.
He advised colleges to actively explore alternate financing sources, emphasising the necessity of self-sufficiency in the current economic context.
The President urged colleges to look into foreign research funding prospects, asking them to tap into global resources by forging cooperation and soliciting grants from around the world.
“Funding of universities cannot be undertaken by the government alone, especially at a time when the country is facing economic challenges, with other competing demands from various other sectors.”
“However, this administration will always provide the enabling environment within the limit of available resources for universities to operate, as the flagship of our educational endeavor and the bedrock of our national development.”
“I also urge all universities to find ways of attracting funds for research from across the world and consider more viable options of resource mobilization to improve their IGR,” he said.
He reaffirmed his administration’s commitment to continuing to provide the necessary assistance to allow universities to accomplish the goals for which they were formed, in accordance with the Renewed Hope Agenda.
cc: Daily Post Ng
