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Vice-chancellor urges universities to boost internally generated revenue

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The Vice-Chancellor of the University of Ibadan, Kayode Adewola, has highlighted the urgent need for universities to boost their Internally Generated Revenue (IGR).

Adewola said this is necessary in order to tackle the financial challenges faced by the education sector.

The VC said this during the 52nd swearing-in/induction ceremony of students at the Faculty of Veterinary Medicine, University of Ibadan,

With limited resources and insufficient funding from proprietors, he emphasised the importance of engaging alumni to support their alma mater.

Adewola announced plans to strengthen the university’s relationship with the newly established Office of Alumni Relations.

He noted that the move aims to provide alumni with opportunities to give back to the university, helping to bridge the financial gaps and enhance the overall educational experience for students.

During the same event, Abib Olamitoye, former President of Ibadan College of Medicine Alumni Association Worldwide, expressed concern about the lack of genuine role models in Nigeria to inspire and guide the youth towards success.

He stressed the significance of proper mentorship to empower the younger generation and nurture their aspirations.

Olamitoye underscored the importance of ethical success and the need for young individuals to study the lives of genuinely successful people with trackable and stainless wealth.

He said, “Such exemplary figures can inspire the youth to achieve eminence with integrity.”

He emphasised “The principle that the path to riches should be marked by consistency, resilience, and ethical conduct.

In recognition of academic excellence, the ceremony witnessed the presentation of N100,000 each to two students, Adebowale Ezekiel Ayomide and Ajao Jadesola Julian, who obtained six distinctions in the faculty of Veterinary Medicine.

Olamitoye further pledged to continue awarding the same N100,000 prize to any student achieving six distinctions, regardless of their number, in the faculty until his retirement from the institution.

This initiative aims to encourage and support outstanding academic achievements among students.

Overall, the event brought attention to the importance of universities taking proactive measures to address financial challenges, engage alumni, and provide ethical role models and mentorship for the youth, fostering an environment that encourages excellence and integrity in education and beyond.

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