Governing Council Seeks Independent Funding for UNN

Emmanuel Ugwu-Nwogo

The newly inaugurated governing council of the University of Nigeria, Nsukka (UNN), has commenced plans to make the institution self-sustaining in funding its research, academic programmes, and infrastructures.

The chairman of the council, Ikechi Emenike, outlined the goal in his address at the council’s inaugural meeting, said it was time for UNN to have an independent financial base, pointing out that 91 out of 170 universities in the country get funding from either federal or state government.

“We must all start thinking of novel ways of getting the resources our tertiary institutions need to fulfil their mandate of producing people capable of managing and driving the political economy,” he said.

He, therefore, pledged the council’s readiness “to think outside the box to provide this citadel of learning with an independent financial base” that would free it from over-dependence on government.

The new chairman called on managers of Nigeria’s ivory towers to learn from the American system and build robust endowment funds to guarantee financial buoyancy.

“Today, Harvard University has $44 billion endowment funds, University of Texas treasures $33 billion, Yale University maintains $33 billion, Stanford University keeps $30 billion while Princeton University preserves $28 billion,” he added.

He noted that building such an enormous financial base might be considered a tall order in Nigeria but stressed it could be achieved. However, he warned against turning the university into a profit-making venture.

While stating that he did not regard his appointment “as an award or in glory,” Emenike said it was “something I must use for the betterment of this university in particular and humanity in general.”

Emenike further stated, “I view it as a call to serve. It is an assignment I intend to take as seriously as all calls and demands for service to humanity ever made on me in my modest career in development economics and conscientious socio-political activism.”

Describing UNN as a national heritage, Emenike said the council would do its best and provide “a great pillar of support” for the management to make the institution live up to the dream of its founding father.