{"id":28035,"date":"2018-11-08T14:18:27","date_gmt":"2018-11-08T13:18:27","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=28035"},"modified":"2018-11-08T14:18:27","modified_gmt":"2018-11-08T13:18:27","slug":"nigeria-needs-n2tri-annually-to-adequately-fund-tertiary-education-says-babalakin","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/nigeria-needs-n2tri-annually-to-adequately-fund-tertiary-education-says-babalakin\/","title":{"rendered":"Nigeria Needs N2tri Annually To Adequately Fund Tertiary Education, Says Babalakin"},"content":{"rendered":"<div id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17587\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17588\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17589\">Dr Wale Babalakin, the Pro-Chancellor and Chairman, Governing Council, University of Lagos (UNILAG), has said that the Federal Government needs about N2 trillion annually to properly fund tertiary education.<\/span><\/span><\/div>\n<div><\/div>\n<div id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17591\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17592\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17593\">Babalakin made the disclosure Wednesday at the 20th Anniversary and 2018 Annual Lecture\/Exhibition Series of the School of Technology, Yaba College of Technology, Lagos.<\/span><\/span><\/div>\n<div><\/div>\n<div id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17595\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17596\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17597\">He spoke as the Guest Speaker on \u201cTechnical Education and the Industry: Bridging the Gap for National Development.\u2019\u2019<\/span><\/span><\/div>\n<div><\/div>\n<div id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17599\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17600\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17601\">Babalakin decried the poor funding of the nation\u2019s tertiary institutions.<\/span><\/span><\/div>\n<div><\/div>\n<div id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17603\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17604\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17605\">\u201cThe funds being released by the Federal Government to each institution in the country is inadequate.<\/span><\/span><\/div>\n<div><\/div>\n<div id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17607\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17608\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17609\">\u201cGovernment must increase its funding of the nation\u2019s tertiary education,\u2019\u2019 he said.<\/span><\/span><\/div>\n<div><\/div>\n<div id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17611\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17612\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17613\">Quoting statement by the Academic Staff Union of Universities (ASUU), he said about 3,000 dollars (N1.08 million) was required annually to train an under-graduate student.<\/span><\/span><\/div>\n<div><\/div>\n<div id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17615\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17616\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17617\">He said that the University of Lagos for instance, needs about N48 billion to train its students annually, but only received N10 billion, which he said, was inadequate.<\/span><\/span><\/div>\n<div><\/div>\n<div id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17619\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17620\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17621\">The Unilag pro-chancellor said that the total funds released in the 2017 budget to the sector was N1.5 trillion.<\/span><\/span><\/div>\n<div><\/div>\n<div id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17623\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17624\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17625\">\u201cThe only way the county can get out of poverty is through technical advancement,\u2019\u2019 he said.<\/span><\/span><\/div>\n<div><\/div>\n<div id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17627\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17628\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17629\">Babalakin said the Federal Government should carry out total reform in the education sector.<\/span><\/span><\/div>\n<div><\/div>\n<div id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17631\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17632\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17633\">According to him, the only way we can fund education is to aggregate our resources.<\/span><\/span><\/div>\n<div><\/div>\n<div id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17635\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17636\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17637\">He said, \u201cGovernment can create an education bank which will provide about N1 million loan to undergraduates to be paid back in five years upon graduation, with about five per cent interest.<\/span><\/span><\/div>\n<div><\/div>\n<div id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17639\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17640\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17641\">Babalakin decried the dearth of development in the nation\u2019s tertiary institutions.<\/span><\/span><\/div>\n<div><\/div>\n<div id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17643\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17644\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17645\">\u201cIn the past, secondary schools laboratories were better than laboratories in most universities and polytechnics today.<\/span><\/span><\/div>\n<div><\/div>\n<div id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17647\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17648\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17649\">\u201cWithout technology, you are wasting your time.<\/span><\/span><\/div>\n<div><\/div>\n<div id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17651\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17652\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17653\">\u201cIn the past, heads of major companies in the country were occupied by Nigerians; but today, there is no major company in Nigeria that is headed by a Nigerian.<\/span><\/span><\/div>\n<div><\/div>\n<div id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17655\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17656\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17657\">\u201cI am worried when people say we don\u2019t have qualified Nigerians to occupy some certain positions or carry out some jobs.<\/span><\/span><\/div>\n<div><\/div>\n<div id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17659\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17660\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17661\">\u201cNigerians still import expatriates and artisans to carry out jobs which can be done by Nigerians; no expatriate will genuinely want to develop your country.<\/span><\/span><\/div>\n<div><\/div>\n<div id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17663\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17664\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17665\">\u201cWe cannot create a country, except we create the technical education that will transform it,\u201d he said.<\/span><\/span><\/div>\n<div><\/div>\n<div id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17667\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17668\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17669\">Also, Mr Obafemi Omokungbe, the Rector of Yabatech, congratulated the school for its outstanding journey so far.<\/span><\/span><\/div>\n<div><\/div>\n<div id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17671\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17672\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17673\">Omokungbe said theme of the lecture was in perfect agreement with the vision of his administration in the next four years, focussing on improving the human resources and infrastructure facilities in the college.<\/span><\/span><\/div>\n<div><\/div>\n<div id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17675\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17676\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17677\">Earlier, Mrs Bola Dada, the Dean, School of Technology, Yabatech, said the school had been in the fore-front of academic brilliance, producing the best overall students in the college at the National Diploma (ND) and Higher National Diploma (HND) levels.<\/span><\/span><\/div>\n<div><\/div>\n<div id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17679\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17680\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17681\">\u201cWith a strong drive and unreserved dedication toward excellence, our school has grown in leaps and bounds producing diplomats in various fields.<\/span><\/span><\/div>\n<div><\/div>\n<div id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17683\" dir=\"ltr\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17684\"><span id=\"m_3087464128738859941yui_3_16_0_ym19_1_1541642974847_17685\">\u201cThey have proven their mettles and become captains of industries, entrepreneurs and government officials.<\/span><\/span><\/div>\n<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" 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Babalakin made the disclosure Wednesday at the 20th Anniversary and 2018 Annual Lecture\/Exhibition Series of the School of Technology, Yaba College of Technology, Lagos. He spoke &hellip;<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":28036,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17,624],"tags":[4918],"coauthors":[2391],"class_list":["post-28035","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","category-politics","tag-babalakin"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nigeria Needs N2tri Annually To Adequately Fund Tertiary Education, Says Babalakin - National Wire<\/title>\n<meta name=\"description\" content=\"Dr Wale Babalakin, the Pro-Chancellor and Chairman, Governing Council, University of Lagos (UNILAG), on Wednesday said Federal Government needs\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/nigeria-needs-n2tri-annually-to-adequately-fund-tertiary-education-says-babalakin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigeria Needs N2tri Annually To Adequately Fund Tertiary Education, Says Babalakin - 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