The State Government has recently started an independent financing system that would keep all three of Lagos State’s higher institutions moving in the direction of sustainability.
In a move that would dramatically revolutionise the paradigm for paying higher education in the nation, Lagos State Governor Babajide Sanwo-Olu announced on Thursday that the government will establish the Lagos State Tertiary Education Trust Fund.
At the State House, Marina, Sanwo-Olu made the statement as he welcomed members of the visitation panel to the Lagos State University (LASU) headed by Prof. Abdulrahman Bello, a former vice chancellor of the University of Lagos (UNILAG).
The group, which was appointed in November 2021, submitted a 322-page report with suggestions for the governor to consider in order to satisfy the university’s current demands for academic advancement and physical development.
Given the nature of the conflicts that characterise the national university system and have resulted in recurrent staff strikes and campus closures all throughout the nation, Sanwo-Olu said that the necessity to establish separate financing channels for the State’s tertiary institutions became necessary.
Despite the fact that none of Lagos’ three tertiary institutions are participating in the current Academic Staff Union of Universities (ASUU) strike, the governor said that the Fund would be a practical way to satisfy the needs of the universities.
The Governor gave the Special Adviser on Education, Hon. Tokunbo Wahab, and the Attorney General, Mr. Moyosore Onigbanjo, SAN, instructions to draw the legislation that would give the Fund legal legitimacy.
The establishment of the Lagos State Tertiary Education Trust Fund, in his opinion, is necessary now that there are three universities in Lagos.
This will, in our opinion, create a sustainable model and the funding necessary, both internally and externally, to strengthen academic research, learning, and everything else necessary to keep these universities on track with their missions.
“This is a concept whose time has arrived at the right moment, since many schools are closing as a result of labour issues.
I am giving the Attorney General and Special Adviser on Education responsibility for establishing the legal foundation for the Trust Fund.
Another legacy project that our government will do to support education in our State is this one. By doing this, a sustainable financing model for these schools will be created.
In addition to the monthly subsidies and intervention money provided by government education organisations, such as the Tertiary Education Trust Fund, Sanwo-Olu said that the Trust Fund will provide a new financial stream for the three institutions (TETFund).
The LASU Visitation Panel, according to the Governor, was established to usher in a new era of progress for the institution, which was named the second-best university in Nigeria by the Times Higher Education (THE) World University Rankings, 2020.
After receiving the panel report, Sanwo-Olu said that the State Government will set up a committee to analyse the proposals within the next seven days.
According to him, the committee is anticipated to produce a White Paper that would guarantee the recommendations of the panel are implemented in an orderly manner.
“It makes me happy to know that the panel accepted the challenge kindly and with the necessary dedication. I appreciate the chairman and the members’ commitment to the efforts put into this challenging task.
You are submitting the report today. I can promise you that we will consider and implement any ideas. Lagos will keep serving as the nation’s educational ray of hope, the Governor said.
According to Prof. Bello, throughout its meetings, the panel discussed its 11 terms of reference with every university stakeholder.
The panel received and reviewed 40 memoranda from ASUU and the Senior Staff Association of Nigerian Universities (SSANU), which comprised 58 distinct problems.
The chairman also revealed that members of the group visited the university’s three campuses.
In order to preserve this position, LASU needs assistance and support, according to Prof. Bello.
Each term of reference has a list of the specifics that would need to be completed.
These concerns for the government range from budget requirements to modifications to the University Law to promote good governance and peace, as well as challenges with academic and infrastructure demands.
The panel’s findings included the recommendation that LASU’s Epe campus’s infrastructure be upgraded to match university standards.