UNN strategises for financial independence, sustainability

AS the country’s tertiary institutions continue to suffocate under poor allocations from the Federal Government, the University of Nigeria, Nsukka (UNN) has disclosed that it has concluded plans to market its products to achieve financial independence and self-sustainability.

Vice Chancellor of institution, Prof. Charles Igwe, stated this while addressing management of the University of Nigeria Centre for Business Development (UNCBD) during a presentation of a strategy on the issue.

Igwe urged the UNCBD to aggregate all the products of the university for strategic marketing in a bid to attain financial freedom and self-sustainability.

He also charged the centre to increase the global visibility of the institution’s products to attract more patronage from foreigners, pointing out that the models being presented to the university could only attract finances if they were backed with practical steps.

Also speaking, Deputy Vice Chancellor (Administration), Prof. Pat. Okpoko, urged the UNCBD team to recommend accounting structures for different products of the institution so as to harness their values for financial growth.

Okpoko admonished the team to develop programmes and processes that would ensure the institution’s economic growth.

Presenting a five-year Strategy Map of the UNCBD, its Director, Prof. Nnanyelugo Okoro, assured the university’s management that the centre would be ‘a cash cow’ for the institution.

“It is now clear that universities should not fold their hands and wait for the government to bring in money because no matter the amount they are given, it can not be enough going by the universities’ scope of responsibilities.

“Our research has shown that UNN has not gone to market with its products. We believe that time has come to make this university the centre of excellence. In our plan, we are targeting the creation of UNN Business School and running some courses for residential and online students,” he stated.

He added that there were some products the centre wanted to introduce to the existing ones, adding: “For instance, there is no reason we should not have Lion Larger Beer and Malt. We shall also market our expertise in this university.

“Several centres and institutes in UNN have not been properly positioned and the same goes for our various products. But by the time we push our Lion Water, Bread and other products to the market, we should achieve financial freedom.”