The Vice-Chancellor (VC) of Wesley University, Ondo State, Prof. Samuel Obeka, at the weekend, disclosed that the lack of external funding has negatively impacted the growth of private universities in Nigeria.

While decrying the continued exclusion of private universities from the Tertiary Education Trust Fund (TETFund) projects, Obeka emphasised that privately owned tertiary institutions have been contributing immensely to the country’s education system despite minimal support from the government.

Obeka, who stated this during the 18th matriculation ceremony of the institution, urged the Federal Government to urgently revisit the TETFund policy.

According to the Vice-Chancellor, the unavailability of support in terms of funding gaps in private institutions has been one of the major setbacks, which he said requires urgent attention.

Obeka, who presided over the matriculation ceremony, which marked the highest number of intakes in the school’s history with 1,288 new students, emphasised that while federal and state universities enjoy financial interventions, private universities are left to cater for development solely through school fees and occasional private donations.

He said, “Our growth has been remarkable, but we can do much more if private universities are allowed access to TETFund. We contribute to national development just like public universities. Government support in infrastructure and research grants should be inclusive.”

The Vice-Chancellor added that despite these challenges, Wesley University has made great strides in academic and infrastructural development, including the accreditation of 25 new programs, the development of its permanent site, and ongoing solar electrification projects supported by individuals like Hon. Abiola Makinde.

He praised donors such as the Badejo, Odejayi, and Akingbule families for their generous contributions, which have helped cushion the effects of funding gaps.