By Adelowo Adebumiti
The Governing Council of the University of Lagos (UNILAG) has developed a roadmap to unlock the full potential of the university by identifying untapped value across academic, financial, and infrastructural assets, setting the stage for rapid development.

It also aimed to reposition the institution for sustained growth and global relevance. Besides, the university is also set to optimise its resources, including land, real estate, intellectual capital, and partnerships, while also exploring innovative funding models to enhance financial sustainability beyond traditional government allocations.

These were the resolutions of the Council during a two-day retreat for deans and other principal officers of the institution, themed: ‘UNILAG beyond today: Unlocking value, optimising assets and location, shaping the future,’ held at Epe Resort, Lagos.

The Pro-Chancellor and Chairman of the Council, Wole Olanipekun (SAN), who spoke at the retreat, said that for the institution to reach the next level of development, an actionable plan is imperative to optimise assets, unlock its technological, human and material potential.

Olanipekun said that the university would transform its waterfront into a hub for economic growth, academic innovation and national prestige. The Pro-chancellor, who cited examples of universities worldwide transforming waterfronts for development, said UNILAG’s strategic location is a huge factor that, if explored, would catapult the institution into a global tourist site and a bio-aquatic research destination.

The Vice-Chancellor, Prof. Folasade Ogunsola, presented an overview of the institution’s current status, highlighting its strengths and challenges. She also spoke on rankings, research excellence, experiential learning, programme accreditations, admissions, open distance learning, and global partnerships.

The keynote speaker, Prof. Akin Owosekun, who is the Asotun of Isotun Kingdom, Ireland, and a renowned Higher Education Consultant, advised that the university should pursue financial growth through property development, applied research and development through reverse engineering and exploration of solid mineral resources.

Meanwhile, in a communiqué issued at the end of the retreat, the university stressed the need to rethink funding models for Nigerian universities, granting them full autonomy in academic, administrative, and financial matters.

It also emphasised the need for institutions to diversify revenue sources through Public-Private Partnerships (PPPs), alumni contributions, and other innovative strategies while maximising the value of endowment funds to support research and infrastructure.

The Council stressed the need to accelerate the integration of digital learning and Artificial Intelligence (AI) into teaching, research, and administration and to expand smart campus solutions, such as e-learning platforms, virtual laboratories, and automated services.

It also called for creating a dedicated task force to oversee the implementation of digital transformation strategies. However, to accelerate growth, the retreat also called for promoting enrolment in online and open distance learning programmes to attract global learners and the provision of targeted training and professional development in key strategic areas.