Vice Chancellors Push Alternative Funding Models for Nigerian Universities

Vice-Chancellors and university administrators have called on higher institutions across Nigeria to prioritise students’ welfare and learning experience, stressing that alumni donations and endowment support can only thrive when graduates feel valued by their universities.

The university leaders made the remarks on Monday during the Commonwealth Institute Universities Leaders Conference themed, “Funding and Revenue Generation for Universities,” held in Lagos.

Speakers at the conference noted that overdependence on government allocations and tuition fees is no longer sustainable for universities. They urged institutions to explore alternative funding sources such as alumni endowments, research grants, donor partnerships, and commercialisation of innovations.

Chairman of the Nigeria Higher Education Foundation, Mr Wale Adeosun, identified tuition, alumni-funded endowments, research grants, and innovation commercialisation as the four major funding sources for universities.

According to him, many Nigerian universities are “sitting on gold mines” because 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.”

He added that universities must deliberately build strong alumni engagement structures through professional advancement offices, while vice-chancellors should see themselves as chief fundraisers for their institutions.

Adeosun also emphasised the importance of ensuring students enjoy positive experiences during their time in school.

“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 stated.

Director of the Commonwealth Institute of Advanced and Professional Studies, Prof Anthony Kila, explained that the conference was organised to help university leaders rethink funding strategies and identify new revenue streams.

He noted that top universities around the world, including University of Cambridge, University of Oxford, and Harvard University, do not rely solely on tuition fees for survival.

“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.

He further stressed that universities must create environments where students feel inspired, empowered, and connected to their alma mater.

“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,” he stated.

Vice-Chancellor of Chrisland University, Prof Oyedunni Arulogun, also urged institutions to strengthen relationships with students and stakeholders if they hope to secure future support from alumni.

“One of our key stakeholders is our students. A student will look back if they are treated as kings,” she said.

Similarly, Vice-Chancellor of Bells University of Technology, Prof Jeremiah Ojediran, described funding as a major challenge for private universities, noting that many institutions still depend heavily on tuition fees and support from proprietors.

“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.”

The conference attracted several university administrators and education stakeholders from institutions across the country, including Ekiti State University, Federal University of Health Sciences, Western Delta University, Anchor University, Redeemer’s University, University of Jos, and University of Port Harcourt.