President Bola Ahmed Tinubu has highlighted the strides his administration has made in stabilising Nigeria’s economy and revamping the education sector.
Speaking today through the Minister of State (Education), Dr Suwaiba Sa’id Ahmed at the 2024 convocation, 76th Foundation Day Ceremony, award of Doctorate Degrees, and conferment of Honorary Degrees at the University of Ibadan, the president detailed the challenges inherited upon assuming office in 2023 and the efforts taken to reposition the nation for growth and development.
From Right, Chief Moji Ladipo, Alhaji Muhammadu Indimi, Prof Olufemi Bamiro and Victor Etuokwu
“My administration inherited an economy that was struggling to stay afloat across all sectors. We have, however, managed to salvage the country from imminent bankruptcy,” Tinubu stated.
While acknowledging that allocating all available funds to the education sector is unrealistic, he emphasised that substantial progress has been made in injecting resources into the sector.
He noted that tertiary institutions have been the primary beneficiaries of increased funding, facilitated through mechanisms such as the Tertiary Education Trust Fund (TETFUND) and the Nigerian Education Loan Fund (NELFUND). NELFUND, a student loan scheme, aims to provide financial support to eligible students in higher institutions, empowering them to pursue their academic aspirations.
“We are not there yet, but please note that this development is not a destination but a journey,” Tinubu remarked.
Tinubu pointed out that in a move aimed at improving access to higher education, the Federal Government has reversed the policy mandating a minimum age of 18 years for university admission.
He emphasised that this decision restores the status quo ante, reflecting the government’s “listening” approach and commitment to inclusivity in education.
Addressing the financial demands of university unions, particularly the Academic Staff Union of Universities (ASUU), the president urged them to adopt a cooperative approach.
He stressed the importance of balancing the needs of all sectors within the constraints of available resources.
“A collapsed economy will not be in anybody’s interests. I submit that unions should partner with the government to arrive at a funding blueprint for the university system that takes cognizance of local peculiarities and modern realities based on global best practices,” he said.
Tinubu further challenged Nigerian universities to reassess their contributions to national and global development.
Describing universities as “temples of wisdom and innovation,” he called for a renewed focus on generating impactful ideas that drive societal progress.
“Any university that does not make worthwhile contributions to the positive transformation of its country and the global community has failed to live up to the reason for its existence,” he asserted.
As his administration continues its reform agenda, Tinubu’s remarks underscore the dual focus on economic stability and educational advancement as cornerstones of Nigeria’s long-term development.
At the event, four distinguished Nigerians were conferred with the Honourary Degree of the university. They are the first female UI Registrar, Chief Moji Ladipo, Doctor of Letters, the Founder and Executive Chairman of Oriental Energy Resources, of Alhaji Muhammadu Indimi, Doctor of Letters, the 10th UI Vice Chancellor, Emeritus Professor Olufemi A. Bamiro, Doctor of Science, and former Deputy Managing Director, Access Bank Plc, Victor Etuokwu, Doctor of Science.
Also, the University graduated 541 PhDs, two Doctor of Medicine and 12 PhDs from Pan African University, Life and Earth Sciences Institute.
Earlier, the Chancellor of the institution, Alhaji Muhammadu Sa’ad Abubakar, the Sultan of Sokoto appealed to the government to do more in the provision of adequate and proper funding of tertiary institutions.
Pointing out that the authority of the institution is aware of the dwindling state of economies of nations, he is optimistic that prioritizing education will raise the standard of the output of the universities and thereby address some of the ills bedeviling society.
He appealed to the parents and students to understand the management in trying to explore ways to complement the efforts of the government adding, “This is significant in ensuring that standards are not compromised.
In his own speech, the institution’s Pro-Chancellor, Chief Adebisi Akande called for collaboration between educational institutions and investors in all the states in Nigeria to found farming–villages in every local government with a view to attracting the young graduates into agriculture.
“The multiplier effects would result in the innovative fabrication of modern farming implements, in the illustration of practical demonstrations of the essence of academic institutions in using sciences, technologies and management techniques for the promotion of plenteous nutritional agricultural yields and in the attractiveness of business investments in profitable agro-allied industries among the generality of our society”, he said.
In his speech, the institution’s Vice Chancellor, Professor Kayode Adebowale described the new academic doctors as philosophers, thinkers and solution providers adding that the nation needs them to provide feasible and practical solutions to the complexities that are grappling with it.
He said, “The worth of a university degree is not in the number of years spent to acquire it; neither is it in the amount of industry or hard work that was expended while one was a student. The name and reputation of a university may matter but these do not singularly decide the worth of its degree. The worth of a university degree is in the industry, learning and character that the holder of that degree displays daily from the moment of obtaining the degree. It is also in the humane character expressed by the holder in a world that is aching. This is why we cannot overemphasise the importance of your daily conduct once you step out of here today.”
“People would easily forgive and excuse the holder of a bachelor’s degree if such a person displays improper judgment; they might reluctantly overlook the slips of the holder of the degree of Master. It would be difficult for them to explain, ignore or pardon the misconduct or improper judgment by the holders of the highest academic degree possible”, he added.
Adebowale gave the graduation statistics as follows: 6, 553 were conferred with a Bachelor’s Degree, 111 Diploma certificates, 26 Master of Philosophy, 2, 552 Academic Degrees of Master, 418 Professional Degrees of Master, 132 Postgraduate Diplomas, two Doctor of Medicine, 483 Doctor of Philosophy.
According to him, the Faculty of Education stands on top of the list with a total of 96 doctoral graduands, which was followed by the Faculty of Science with 85 graduands.
Dignatries at the event
In attendance were Governor Seyi Makinde, represented by his deputy, Bayo Lawal, Borno State Governor, Professor Babagana Umara Zulum, former Oyo State Governor, Oba Rashidi Ladoja, who represented the Olubadan of Ibadanland, Oba Owolabi Olakulehin, Senator Sharafadeen Alli, who represents Oyo South Senatorial District, Professor Emeritus Ayo Bamgbose, Royal fathers including Onpetu of Ijeru, His Royal Majesty, Oba Sunday Oladapo Oyediran and Vice Chancellors of many Nigerian universities including their representatives.
