Corporate Nigerians including SIFAX Group, Momas, a major electricity meter manufacturing company as well as alumni and other stakeholders made history on Thursday with their massive financial support to the N50billion Endowment Fund for Yaba College of Technology Lagos, the country’s premier tertiary Institution.
SIFAX which provides one-stop logistics at the seaport and airport tops the list of donors at the epoch-making event held at the magnificent Eko Hotel and Suite, announcing an N100million commitment for the construction of a hall on the campus.
Chief Executive of Momas, Senator Kola Balogun who was represented at the event, assured the 75year old Institution of continuous financial support to the endowment while Consult Associates announced N10million donation.
The Zonal Co-ordinator of Academic Staff Union of Polytechnics ASUP, Engr Yekini Nureni encouraged other staff and stakeholders with an appreciable N5million personal donation.
Some of the individuals who graced the event including Oba Olufolarin Ogunsanwo announced a donation of a million naira, an alumnus of the Institution, Seun Jaiyesimi donated N500,000 while a sum of N100,00 was announced by Mazi Victor Cletus.
Pa George Majekodunmi, a 92-year-old former Rector of the Institution between 1972-1975 who was full of praises for the Prince Lateef Fagbemi (SAN) led Governing Council of the College, pledged a donation of N200,000 while Dr. Henry Ikwe announced N6million to be spread over three years, Mr. Ade Olusanya donated the first tranche of N2.5m.
Nigeria’s former president, Chief Olusegun Obasanjo represented by Pastor Dotun Ojelabi as chairman of the launching, and Minister of Education, Mallam Adamu Adamu represented by Deputy Vice Chancellor of the University of Lagos, Prof.Bola Oboh were later presented with awards in appreciation of their commitment to the endowment fund.
Vice President, Prof.Yemi Osinbajo in his goodwill message via video slide, rallied support for the endowment, commending the initiative of the College for taking the lead in the country, just like other globally recognized the University of Oxford, University of Harvard, Yale University.
Chairman of the Governing Council, Prince Fagbemi said that the essence of the endowment was to position YabaTech as one of the topmost and most reputable institutions within and outside Nigeria that consistently deliver on their mandate of providing sound and quality technological education.
He was delighted that Yaba Tech despite the major challenge of funding, still ranks as number one among other polytechnics in Nigeria for the third consecutive time according to the webometric ranking in January 2022
“We are hopeful that with the launch of the Endowment Fund, Yaba College of Technology will be able to access more resources to make our dream for the college, come true”, he added.
Fagbemi expressed confidence in the leadership of the Endowment Fund’s Board of Trustees, Dr. J.k Naiyeju, a former Accountant General of Federation, in providing a solid foundation for the growth of the endowment fund.
Rector of the college, Engr. Obafemi Omokungbe had earlier explained that the endowment was initiated to complement the Federal Government in funding the Institution saying “the College is replete with decayed and inadequate infrastructure, growth beyond the existing facilities particularly space constraint for expansion and provision of staff offices, classrooms, workshops, and laboratories as well as students and other academic activities”.
He lamented that the development of the college’s second campus at Epe to solve the problem of space in the main campus was hampered by inadequate and sometimes lack of funds.
Ondo State Governor Rotimi Akeredolu represented by Special Assistant on Education, Dr. Wunmi Olawoyi, described the endowment as a welcome development, saying the present administration of Buhari is committed to the growth of technology-driven education, promising to support the institution.
Chairman of BOT, Dr. J.K Naiyeju called on Nigerians and corporate organizations to sustain their support for the endowment fund, to enable YabaTech to consolidate on the leading position in terms of providing quality technology education in the country.
EDU-BIZ NEWS