Nigerian varsities strategic asset to economic dev’t – Don

Mr Nwakanma, a lecturer in the Department of Finance and Banking, University of Port Harcourt in Rivers, made the call in his valedictory lecture held at the university’s auditorium on Thursday.

He spoke on the theme, “Crises in Nigeria’s Federal Universities: Is cash the culprit?”

He said that education should be seen as a wealth creation system, which eliminates poverty and instability of the economy, “if fully funded, equipped and committed by government”.

He regretted that the perception of the university degree and diploma of other tertiary institutions “as a meal ticket and status symbol fuelled corruption in the pre-independence Nigeria and the First Republic, which led to its untimely fall”.

Mr Nwakanma, who retired after 27 years of service, said that the attitude of some elite not so skilled in the practice of wealth creation seeing education as a mere commodity for consumption to date.

He said that the gains of education should be appreciated as an instrument for improving human functionability than something that had the potentials to make the elite richer.

He said, “If graduates of the universities were made to imbibe the virtues of self-education as a critical component of university education, that could save the prevailing crises in federal universities, and the nation could have been better of.

“Education should be seen as a wealth creating process, whereby the more people are equipped to create wealth the more the available resources will be expanded.

“Also, funding of education will be easier, economy will be good for everyone, poverty would be reduced and everyone will have share in prosperity,” Mr Nwakanma said.

He also spoke on the incessant strikes by the Academic Staff Union of Universities.

According to him, the Federal Government, in consultation with ASUU and other stakeholders, should develop policies that could ensure long-term industrial harmony and the smooth functioning of the federal universities.

Mr Nwakanma advised his colleagues still in service to keep the flag flying.

He also advised them not to relent, knowing that service to humanity is service to God.

Earlier, the Dean, Faculty of Management Sciences, Prof. Godwin Umoh, commended Nwakanma for his meritorious and diligent service to the institution.

Mr Umoh admonished him to continue to share his wealth of knowledge with the institution whenever his service was needed.