Imo State Governor, Hope Uzodimma has canvassed creative financial models among public universities so as to overcome their present funding challenges.
He said since it is now obvious that government alone cannot sustain the funding of public universities, the authorities must devise creative ways of financial sustenance.
Uzodimma spoke at the maiden Convocation Lecture of Federal University, Birnin Kebbi, where he insisted that the universities’ authorities must work with other major stakeholders to embrace other sources of funding outside government.
He acknowledged that the current sources of funding for universities, namely budgetary allocations, tuition fees, research grants, Tetfund and alumni contributions are not enough and need to be supported by other areas.
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Uzodimma noted that diversification of revenue sources, enhanced internal revenue generation capabilities, and public, private partnership are ways that should be deepened for enhanced funding.
The convocation lecturer was emphatic that given the contributions of public universities to national development, especially in human capital development, there is a need for all relevant stakeholders to tackle the issue of dwindling funding for the institutions.
(Editor: Okechukwu Eze)
