Former OAU VC maps out strategies for varsities’ survival in post-oil economy

Former Vice Chancellor of Obafemi Awolowo University (OAU), Ile-Ife and secretary, Committee of Vice Chancellors (CVC), Prof. Michael Faborode has tasked the nation’s apex institutions to look inward, be creative and collaborate to raise the stake of research capable of transforming the society.

He urged all stakeholders in the university system to engage in serious re-engineering in the areas of resource generation and fresh ideas to enable them float and sustain the system without over-reliance on the funding from Federal and state governments.

Delivering the convocation lecture of Osun State University, last week, the CVC scribe said the economic reality in the country requires creativity, innovation and ability by management in the nation’s ivory tower to manage effectively resources at their disposal for them to remain afloat and survive in the post-oil Nigeria.

Prof. Faborode also advised Nigerians to be prepared to invest in the development of the education sector, saying the nation would be better off if about N2billion being spent to educate Nigerians abroad is invested in expanding and develop infrastructural facilities in tertiary institutions across the country.

Aside from canvassing for quick release of funds to tertiary institutions to facilitate its development, the lecturer observed that Nigeria has not keyed in into the Information Communication Technology (ICT) to maximise the benefits inherent in the sector, adding that those in authorities should create conducive environment to harness the huge potentials of youths in the area of ICT.