The Vice-Chancellor (VC), Veritas University, Abuja, Prof. Hyacinth Eme Ichoku, has explained why the institution is wary of joining the clamour for private universities to be included in Tertiary Education Trust Fund’s (TETFund’s) funding.
In a media parley with journalists in Bwari, Abuja, yesterday, Ichoku said the Catholic-owned university did not want its name soiled by public officials, who would “demand that their palms be greased for the institution to receive certain benefits from government.”
The Guardian reports that there have been calls in some quarters for the extension of funding of private universities by TETFund.
But the Academic Staff Union of Universities (ASUU), through its National President, Prof. Emmanuel Osodeke recently raised the alarm that the National Assembly was under pressure to amend the TETFund Act to accommodate funding of private universities.
Ichoku highlighted some of the drawbacks of being funded from taxpayers’ money.
“It is a good idea for TETFund to extend its funding to private universities in Nigeria since the students here are also Nigerian citizens. And so, if they benefit from the funding that is derived from the taxes their parents pay, I think it is a very good idea.
“But the other side of the story is that we don’t want to be encumbered by the procedures or embarrassment that may come from public funding, where people believe that they can share because money is being allocated to private universities and demand for kickback. Lawmakers come for oversight function and want to see what has been done or you must give us this, we wouldn’t approve your budget.
“We want to remain accountable within the confines of the ownership of Veritas University. We don’t want any interference with public funding of institutions or projects where people demand cuts.
“It is good to have funding from TETFund, which is a public Nigerian institution, but at the same time we don’t want the encumbrances that come with it,” he said.
In addition to tuition fees, the academic listed other sources where private universities can generate income to include donations, grants, and endowments from individuals, foundations or corporations.
