- The Problem: Private universities are struggling due to a lack of external funding.
- The Plea: Wesley University’s VC is calling on the government to include private universities in TETFund projects.
- The Impact: This funding gap is hindering growth and development in these institutions.
Private Universities Face Funding Squeeze
Professor Samuel Obeka, the Vice-Chancellor (VC) of Wesley University, recently dropped a bombshell: private universities in Nigeria are seriously struggling because they can’t get enough funding. He made these comments during the university’s 18th matriculation ceremony.
TETFund: A Lifeline Denied?
The big issue? Private universities are left out of the Tertiary Education Trust Fund (TETFund). Prof. Obeka argues that this is unfair, as private institutions contribute significantly to Nigeria’s education sector. He’s urging the government to rethink its policy and include private universities in TETFund projects.
Why This Matters
Think about it: private universities are training future leaders and contributing to research. But without adequate funding, they can’t reach their full potential. This not only affects the universities themselves but also Nigeria’s overall development.
The Impact on Growth
According to Prof. Obeka, this lack of support is a major setback. Without access to funds, private universities are forced to rely solely on school fees and occasional donations. This makes it tough to invest in infrastructure, new programs, and research.
Wesley University: A Case Study
Despite the challenges, Wesley University has made significant progress. They’ve accredited 25 new programs, developed their permanent site, and even started solar electrification projects with the help of donors. But imagine how much more they could achieve with government support!
The Call for Inclusivity
“Our growth has been remarkable, but we can do much more if private universities are allowed access to TETFund,” Prof. Obeka stated. He emphasized that private universities contribute to national development just like public universities and deserve government support in areas like infrastructure and research grants.
Individual Philanthropy: A Temporary Fix
While waiting for governmental action, Wesley University has been kept afloat by donations from families such as the Badejos, Odejayis and Akingbules. Their contributions helped to cushion the effects of funding gaps.
What’s Next?
The big question is: will the Nigerian government listen? Including private universities in TETFund could be a game-changer for the education sector, boosting growth and development across the country. Let’s hope the powers that be take note!
Fun Fact: Did you know that TETFund was established to rehabilitate, restore, and consolidate tertiary education in Nigeria? It’s funded by a 2.5% education tax paid by companies in Nigeria. Source: Premium Times