Having identified human capital development as the solution to the socio-economic challenges confronting the nation, Pioneer Managing Director and Chief Executive Officer, Guarantee Trust Bank, Mr. Fola Adeola, has announced a donation of N10m in trust fund for the School of Postgraduate Studies (SPGS), University of Lagos (UNILAG).
 
The donation, which he announced on behalf of the Ooni of Ife and His Imperial Majesty, Oba Adeyeye Ogunwusi and friends, was aimed at supporting research works of brilliant, but indigent students undergoing Ph.D programmes in the university.
 
Adeola who chaired the 2015/2016 yearly lecture of SPGS, themed ‘Redefining The Role of Traditional Institutions For National Development,’ as delivered by Oba Ogunwusi, canvassed for financial support from all stakeholders in the education sector to enable the university’s post-graduate school achieve its purpose of launching a trust fund.
 
Though, he was able to realise over N1m in cheques, pledges and cash from lecturers and guests before announcing the N10m donation, Adeola assured that the fund would be judiciously utilised.
 
Earlier, the VC of the university, Prof. Rahamon Adisa Bello, had said that the fund would be used to assist indigent postgraduate students who are desirous of carrying out their research within and outside the country.
 
“It is also aimed at providing special funding for academic and research programmes geared towards raising high level manpower needs of the country and the world,” he added.
 
On his part, Dean, SPGS, remarked that the challenge of funding higher education, especially at postgraduate level is a daunting task, thus the need for collective responsibilities of all stakeholders.
 
“It is often stereotyped that postgraduate students are mainly workers and wealthy individuals, but that is not true. There are many brilliant, but indigent students undergoing Ph.D programmes and some of them are hindered from completing the programme by fund. Ph.D research can be very expensive in some disciplines. We implore well-meaning Nigerians to donate generously towards this noble course,” he said.