Babcock University Vice-Chancellor Calls for Innovative Funding in Higher Education
“Gone are the days where we need to put on our caps and go up begging the government. Every institution should put on its thinking cap and find a way of generating funds that will be able to sustain the University.” said Prof. Ademola Tayo
Chukwuebuka Aniakor 
Prof. Ademola Tayo, Vice-Chancellor of Babcock University, has urged both private and government-owned institutions to explore innovative ways of generating funds. He made this call during the 43rd inaugural lecture of the university titled, ‘Financing higher education in Nigeria: A call for critical review and sustainable funding engagement.’
See also: Seven Abducted FULAFIA Students Freed After Four days in Captivity
Prof. Tayo emphasized the need for institutions to be self-sustaining, stating, “Gone are the days where we need to put on our caps and go up begging the government. Every institution should put on its thinking cap and find a way of generating funds that will be able to sustain the University.”
Recommended: Shortage of Academic Staff in UNN a Nation Wide Issue - UNN Dean
He suggested various avenues for fund generation, including the concept of an Entrepreneur University, consultancy, and fundraising from alumni and parents. “There are many things we can engage in to have some funds that will be able to augment whatever may be coming from TETfund,” he added.
For you: Rayhaan University Set to Commence Academic Activities in January 2024
For institutions not benefiting from the TETfund, Prof. Tayo stressed the importance of having alternative funding sources to keep the investment going. He concluded by saying, “Without thorough funding, there cannot be a very good standard of education.”
