YABATECH Unveils N50b Endowment Fund Logo

Funmi  Ogundare

Ahead of the launch of Yaba College of Technology N50 billion endowment fund scheduled to hold on September 15 at the Eko Hotels and Suites, Victoria Island, the 75-year-old institution, unveiled its logo.

Speaking at the unveiling ceremony, in Lagos, the Rector, Mr. Femi  Omokungbe, noted that the idea of the endowment fund was to provide a consistent and permanent funding source to support students, departments, research and programmes for generations to come. 

According to him,” the endowment fund was conceived out of our desire to address the challenges of infrastructure deficit, obsolete and non-functional equipment confronting the college.”

He said it was imperative for the institution to continue to fulfill the mandates of its founding fathers through ensuring that its students are globally competitive, adding that the government alone can no longer fund education adequately.

“It is expected that having existed for this long period of years, the facilities would have decayed and infrastructure inadequate for the growing population of students and staff. It is also a known secret that the government can no longer adequately fund education, hence the need for all to rise and rescue our college from collapse, “Omokungbe stressed.

He called on influential Nigerians to throw their weight towards the college by investing in the endowment fund.

In his remarks, the Chairman, College Endowment Fund Committee, Mr. Inyang Udoh, stressed the need for adequate funding in order to build and sustain the country’s quality education.

“There is no gainsaying the fact that improving access to education and ensuring quality of such education are the most important things we can do for the present and future generations of our great country Nigeria,” he said.

He however expressed concern that education at the tertiary level is becoming expensive, adding that its managers, operators and learners cannot afford to abandon it.

The Chief Executive Officer ( CEO), Sifax Group, Dr. Taiwo Afolabi who was represented by the Group Executive Director, Corporate Services, Mr. Bode Ojeniyi, commended the college management for the initiative, while promising the organisation’s support towards the endowment fund.

“The Nigeria of today is that of self help, you have to seek ways to generate your funds to survive. We are delighted that the endowment is coming at this time.”