‘In 70 years, UI has produced 232,225 graduates’ – VC

Nigeria’s premier university, the University of Ibadan, has produced a total of 232,225 ever since its foundation 70 years ago, the vice-chancellor, Idowu Olayinka, has disclosed.

Mr Olayinka spoke at the school during the weekend.

This month, UI starts the ceremonies marking its 70th foundation anniversary.

“As at the end of the last session, we had a total of 35,084 students, comprising 14,354 undergraduates, 9,287 distance learning and 11,443 postgraduate students,” said the VC.

The VC hinted at the plans of the University to commemorate the 70th year anniversary, with the recognition of some respected individuals in the society with the status of honorary awards. They include Bode Akindele, Bolanle Awe, Grace Alele Williams, Akin Maboguje, Funmi Olapade and Omoniyi Adewoye.

The Vice-Chancellor further stated that the University needed additional N30 billion in the next 10 years to achieve a world-class standard.

He said, “For us to be a world-class university, we need to invest heavily in physical and infrastructural facilities to address the acute shortage of office space for staff, classrooms and laboratories.”

The VC said that the institution was exploring ways to make itself less dependent on government funding. “We are adopting a two-pronged approach involving a resource mobilization plan and prudent management of the available resources.”

According to the VC, elements of these include regular income from commercial activities and increasing the endowment fund, research grants and strategic funds. Mr Olayinka said that other means would be to consolidate the businesses established by the university.

Such businesses include the UI Microfinance Bank, UI Ventures, UI Water, Animal Production Venture, Fisheries and Aquaculture, UI Publishing House, UI Endowment Fund and the UI Bookshop.

He said that the university was currently spending N13 Billion yearly.

“Presently the institution’s subvention is about N13b, which is a far cry from what is needed to maintain the institution. Out of this N13b, salaries are paid, electricity bills which run to millions of naira are paid, water and healthcare are provided among other things.

“If the premier university is properly funded, within a shortest possible time, it would be among the top five in Africa and top 100 in the world,” he said.