THE Rector, Yaba College of Technology, Engineer Obafemi Omokungbe, has said the N50 billion endowment fund launched recently by the management of the institution is yielding positive results, as many individuals and corporate bodies are redeeming their pledges.
Briefing the press yesterday on the activities lined up for the 34th convocation of the college in Lagos, he said alumni of the institution in Europe have also bought into the idea. “It is a seed that will germinate very well. A lot of companies and individuals are honouring their pledges. I was in the United Kingdom few days ago with the chairman of the Governing Council where we met alumni who came from across Europe. It was well attended and donations were made in hard currencies . I cannot say how much that is in naira.
“At a forum with TETFund and FIRS managements, I also canvassed that they should buy into it and support us. It is evident that government alone cannot fund education. After we launched our fund, some tertiary institutions did theirs too,” he said. On the ranking of Yabatech as the number one polytechnic in Nigeria for three consecutive years, Omokungbe explained that when he came into office, the college was number eight and that a strategic plan was put in place to move the college up the ladder.
“We ensure that our lecturers get published in reputable journals locally and internationally. We even assist them with the cost of publication as we don’t want to put all the pressure on them. There is a blueprint of how to maintain the status even when I leave office,” he said.
On the effort to upgrade the college to a university, the rector said the bill had gone to the second reading stage at the National Assembly, expressing the hope that it would eventually be passed into law. On the graduation ceremony, Omokungbe said a total of 7,554 would bag National and Higher National Diploma certificates at the event.
The graduands are for the 2018/2019, 2019/2020, and 2020/2021 sessions.
The convocation lecture is to be delivered by Mrs Kalifat Araoye, the Managing Director/ Chief Executive Officer of Lotus Bank and is titled “Emergence of successful young entrepreneurs in current Nigerian economy: The place of integrity.”
