President Bola Tinubu has proposed a hybrid approach of public and private funding for Nigerian higher education institutions.
Tinubu emphasized that Nigerian universities can overcome their resource challenges and enhance the quality of education by striking the right balance between public and private financing.
He shared these insights during the 37th and 38th commencement ceremonies of the University of Ilorin, UNILORIN, held in Ilorin, Kwara State.
The President, represented at the event by Minister of State for Education, Yusuf T. Sununu, urged corporate entities, communities, and individuals to offer their support to public universities.
He pointed out that globally, public universities benefit from government funding while also supplementing their resources through private investments.
Tinubu highlighted the Federal Government’s recent enactment of the Students’ Loan program, which is poised to bring positive changes to Nigeria’s educational landscape.
“It was in realisation of this that the Federal Government signed into law the Students’ loan which will positively change the landscape of education in Nigeria,” he said.
He also assured that the government is committed to promoting impactful education and providing both lecturers and students with top-notch facilities to boost their educational experiences.