Vice-Chancellors and university administrators on Monday noted the need for higher institutions across the country to improve students’ welfare and learning experience, saying alumni support and endowment contributions would only thrive when graduates feel valued by their universities.
The university leaders spoke at the Commonwealth Institute Universities Leaders Conference, themed “Funding and Revenue Generation for Universities,” held in Lagos.
They stressed that overdependence on government subventions and tuition fees was no longer sustainable, urging universities to embrace alternative funding models such as alumni endowments, research grants, innovation commercialisation and donor partnerships.
Chairman of the Nigeria Higher Education Foundation, Mr Wale Adeosun, identified four major sources of university funding as tuition, alumni-funded endowments, research grants and commercialisation of innovation.
According to him, universities in Nigeria are “sitting on gold mines” because many of their alumni have the potential to become globally successful and wealthy.
“The largest single source of funding for universities can be the endowment,” Adeosun said.
“A lot of our universities are sitting on gold mines because they have really well-established alumni. Many young Nigerian students are developing products and solving global problems through coding and artificial intelligence. Many of them have the potential to become very wealthy in very short periods of time.
“So the alumni of your universities should be the critical source of funding for schools, while government funding should just be gravy on top.”
He said universities must deliberately build structures that encourage alumni engagement through professional advancement offices.
“The orientation should start from the vice-chancellor. Advancement should be a professional office and a career path for people. The university vice-chancellors have to be the chief fundraisers for universities,” he added.
Adeosun also stressed the need for universities to treat students better so they would be willing to give back after graduation.
“The goal for every university vice-chancellor should be that every student who comes through that door has a great experience. When that student becomes successful, he or she should not think twice about contributing to the university for the next generation,” he said.
Director of the Commonwealth Institute of Advanced and Professional Studies, Prof Anthony Kila, said the conference was organised to help university leaders rethink funding strategies and explore new revenue streams.
He said institutions across the world that thrive financially do not depend solely on tuition fees.
“The old idea used to be that government gave money while private institutions relied on tuition. Clearly, that stream of income is no longer enough,” Kila said.
“The universities that do well globally, Cambridge, Oxford, Harvard and others, charge tuition, but tuition is still a minimal part of their revenue generation.”
Kila added that universities must create environments where students feel inspired and empowered enough to maintain lifelong ties with their alma mater.
“You have to not only teach students, but you also have to nurture, encourage and inspire them so they develop the feeling that ‘this university made me’, and therefore they should give back,” he stated.
“Part of the reason many graduates do not respect their schools or lecturers is that they do not feel empowered. Some even feel abused or oppressed while in school.”
Vice-Chancellor of Chrisland University, Abeokuta, Prof Oyedunni Arulogun, also said institutions must improve relationships with students and other stakeholders if they hope to secure future support.
“One of our key stakeholders is our students. A student will look back if they are treated as kings,” she said.
“But if students are not treated well, they will not look back. If we treat our students well because we do not know what they will become in future, they will forever think about their institution and give back.”
Vice-Chancellor of Bells University of Technology, Prof Jeremiah Ojediran, described funding as a major challenge for private universities, noting that most institutions depended heavily on tuition and support from proprietors.
“Funding is a major issue in all aspects of life, but for private universities, it is a major issue,” he said.
He, however, said universities must build a culture where students genuinely love and identify with their institutions.
“If you give students the culture of loving the university and taking ownership of it, when they leave, they will want to give back to the system,” Ojediran said.
“They want to look back at a system that has built them, not one that has terrorised them.
“If an institution terrorises me and comes back 10 years later asking for money, I will ask why. But if I saw you as building me up and I loved you, before you ask, I will come out for you and support you.”
Attendees at the conference included the Vice-Chancellor of Ekiti State University, Prof Babatola Ayodele, and the institution’s bursar, Mrs Oreoluwa Janet; Deputy Vice-Chancellor (Academic) of the Federal University of Health Sciences, Prof Mohammed Bukar; Vice-Chancellor of Western Delta University, Prof Mohammed Ikelegbe; Vice-Chancellor of MCIU, Prof Ibiyinka Fuwape; and Vice-Chancellor of Anchor University, Prof Samuel Oye Bandele.
Others were the Vice-Chancellor of Chrisland University, Prof Oyedunni Arulogun; Prof Matthew Alabi; Ms Olukemi Ojo; Vice-Chancellor of Redeemer’s University, Prof Shadrach Akindele; the university registrar, Mr David Akintola; Mr Adetunji Adeleye; Ms Fayemi Abigail; bursar of the University of Ilesa, Dr Oyekanmi Mukail Oyesegun; and the institution’s librarian, Mr Adewale Amobi Ogunsipe.
Also in attendance were the Chancellor of Lagos State University, Dr Olufolarin Ogunsanwo; Sr Dr Kathleen McGarvery and Mrs Agnes Emeji of Veritas University; Vice-Chancellor of Bells University of Technology, Prof Jeremiah Ojediran; Prof Ngozi Arisa; Dr Kayode Ogunsola; Mr Adeyinka Badmus; Dr Ifekwem; Vice-Chancellor of the Federal University of Transportation, Daura, Umar Adam Katsayal; Executive Director at the University of Port Harcourt, Prof Friday Nwafor; Registrar of the University of Jos, Dr Rejoice Songden; and the institution’s bursar, Victoria Mankilik.
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