Varsities Can’t Continue To Survive On Govt Largesse, Says Babalakin

Tare Youdeowei
The Pro-Chancellor of the University of Lagos, Dr Wale Babalakin (SAN), has said universities cannot continue to survive on government largesse, adding that they must learn to invest and improve on revenue generation.
Speaking on Thursday during the conferment of postgraduate and honorary degrees at UNILAG’s 50th convocation, Babalakin said Nigerians universities could not continue to survive as “government departments expecting government largesse.”
ut if government cannot afford it, then we all must join forces to do it. If the choice is between quality education and free education, I choose the former.”

Citing examples of universities that had worked hard to be self-sufficient, Babalakin said, “Harvard University today has an average of $36bn. Oxford and Cambridge universities jointly have about $30bn.
“One college in Cambridge (Trinity College) has $1.3bn. How did these universities achieve this? The founders of these universities realised that universities must invest, create value, save money and be productive.

“Our universities cannot continue to survive as government departments expecting government largesse. We have to take advantage of what we’ve got.

“There are no less that 50 Nigerians today who can rebuild UNILAG, but they have to be sure that their contributions would be used appropriately and they would be able to measure performance and monitor their money.”

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