Access Bank Chairman Tasks Institutions on Funding of Education

James Sowole in Abeokuta

The Chairman of Access Bank, Dr. Ajoritsedere Awosika has call on financial institutions and well-meaning Nigerians to assist governments at all levels in funding the education sector so as to ease the burden of government.

Awosika made the call in a lecture she delivered at the fourth convocation ceremony of Chrisland University, Abeokuta, Ogun State.

The university which graduated 52 students awarded Honorary Doctorate degrees to the Alake and Paramount Ruler of Egbaland, Oba Adedotun Aremu Gbadebo and the Vice Chairman of Famfa Oil Ltd., Mrs. Folorunso Alakija.

Awosika in her lecture titled: “The Visible and Invisible Hands of Development: Interrogating the Roles of Tertiary Institutions and Financial Sector in Nigeria,” specifically asked financial institutions to provide more student-centered credit systems and support for tertiary education in Nigeria.

She lamented that millions of young Nigerians were out of school because of the inability of their parents to fund their education.

According to her, tertiary education remains out of the reach of many Nigeria’s poorest and most marginalised and advocated for strategic and effective investments in tertiary education.

She said: “Tertiary education is instrumental in fostering growth, reducing poverty and boosting shared prosperity. It benefits not just the individual, but the entire educational system.

“Tertiary, technical and vocational education and training can provide an effective and efficient complement to traditional university studies in providing students with skills and knowledge relevant to the labour market.

“Larger numbers of students increase the strain on publicly-funded institutions of higher learning and many countries with limited resources are struggling to finance the growing needs of a larger student body, without compromising the quality of their educational offerings.

“Both policies and academic degrees need to be strategically tailored to fit the needs of the local society and economy. Only then can governments realise the gains in primary and secondary attainment through tertiary education access and progression and turn these successes into increased and sustained economic and social development.”

According to her, “the benefits of tertiary education include: higher employment levels, higher wages, greater social stability, increased civic engagement and better health outcomes.”

In her address, the Vice Chancellor of the university, Prof. Peace Chinedum Babalola disclosed that nine students out of the 52 graduands graduated with First Class while 27 graduated with Second Class Upper Division and 14 bagged Second Class Lower Division.

Babalola admonished the graduands to make use of the entrepreneurial skills the university had equipped them with in creating wealth and be self-sufficient.

She said, “My dear graduands be determined not to follow people who will distract you from achieving your goals. Choose your friends wisely.

“One advice I will give to you is do not have one source of income. Do not be fraudulent, avoid internet crime and immorality.”

Highlighting some of the achievements of the institution, which admitted its first seven students in 2016, Babalola said all programmes of the institution have been fully accredited by the National University Commission (NUC) and the professional bodies.

She specifically said the institution’s nursing programme had been granted faculty status, saying the Nursing and Midwifery Council of Nigeria had increased the students’ quota of the university from 50 to 150.

The vice Chancellor also disclosed that Chrisland University, was rated 17 among universities in Nigeria and nine among private universities.

While stating that graduates of the institution could compete with their peers in the world, Babalola stated that apart from Bachelor’s Degree being awarded, all graduates were also awarded Certificate in Leadership Entrepreneurship Studies.

Part of the highlights of the convocation ceremony, were the naming of the main road of the institution after Oba Aremu Gbadebo, the Alake of Egbaland and inauguration of the school’s Faculty of Law.