Adequate Funding Key To Growth Of Education — FULOKOJA VC Prof. Akinwumi

Prof. Olayemi Akinwumi, Vice Chancellor of the Federal University of Lokoja (FUL), highlighted the importance of adequate funding to enhance Nigeria's education sector. Akinwumi, a renowned history professor and former President of the Historical Society of Nigeria, took office as FUL’s Vice Chancellor in 2021. He reflected on the progress and challenges he encountered since his appointment, particularly the issue of inadequate funding, which he described as a significant barrier to the university’s growth.

Akinwumi explained that under his administration, FUL expanded from four to ten faculties, adding new programs in areas like medicine, law, and engineering, alongside institutes for multidisciplinary studies. He also spearheaded infrastructural advancements, including a permanent site move and campus facility improvements. Despite these strides, he underscored the financial strain that universities face in hiring faculty and maintaining standards, as well as the insufficient remuneration for lecturers, which he said discourages talent retention.

To address funding issues, Akinwumi launched a consultancy unit to enhance FUL’s internally generated revenue (IGR). Through various ventures like a printing press and a water factory, FUL has bolstered financial support for its programs. Plans are also in place to establish a micro-finance bank by next year, signaling a proactive approach to financial sustainability.

Akinwumi stressed the need for improved government support and highlighted upcoming initiatives, such as a research workshop for faculty, intended to aid in grant applications. He expressed optimism about FUL’s future, stating his vision to elevate it to a 21st-century educational standard with ICT-driven programs.

On a broader scale, Akinwumi urged the Nigerian government to prioritize education funding and autonomy, which he believes are essential to restoring educational quality. He pointed to the insufficient funding as a systemic issue, adding that Vice Chancellors across the nation face challenges in managing resources effectively.

Prof. Akinwumi concluded by expressing gratitude for the support from FUL’s Pro-Chancellor, Senator Victor Ndoma-Egba, whose leadership he described as instrumental in fostering a productive and relaxed environment for the university's governance.