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YABATECH’s N50Bn Endowment Fund: Former President Obasanjo, Osinbajo, Others Seek Support

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As Nigeria’s premier institution, Yaba College of Technology (YABATECH) launched a N50 billion endowment fund, promi­nent Nigerians have emphasised the need for private support inter­vention for a sustainable higher education sector.

This was the submission of ex-President, Chief Olusegun Obasanjo, the Vice-President, Professor Yemi Osinbajo, Min­ister of Education, Mallam Ada­mu Adamu and Governor Rotimi Akeredolu on Thursday at the launch of a N50 billion endow­ment fund by the Yaba College of Technology (YABATECH) in Lagos.

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The Vice-President, Profes­sor Yemi Osinbajo said higher institutions, as a proven ground for research, learning and best ideas, require all support that can be mustered to make them centres of excellence.

According to him, research and inquiry might lead to a rev­olutionary discovery or lead to nowhere depending on commit­ment, saying such requires ade­quate funding.

“How do you fund world-class, relevant, cutting-edge higher edu­cation sustainably? The question has even greater resonance in Af­rica, where public resources are low and the poverty levels put ac­cess to quality education beyond the reach of many.”

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The VP, who canvassed sup­port for the 75-year-old college, explained that the N50 billion ambition of the endowment fund captured the vision for the institu­tion and demonstrated the keen awareness of management about what was truly at stake.

He described Yaba College of Technology as one of the best institutions to use as proof of the concept that could, indeed, devel­op world-class higher institutions for innovation and research using both private and public-sector fi­nance.

“We must augment govern­ment’s finest intentions with our individual and collective desire to see us do better, to see Africa do better; to see our children step into global arenas of enormous and unprecedented opportuni­ties.

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