The issue of inadequate funding in tertiary education poses a significant threat to the quality of higher education in Nigeria. According to the Executive Secretary of Tertiary Education Trust Fund (TETFUND), Sonny Echono, insufficient funding has led to a lack of crucial infrastructure in many tertiary institutions. Echono emphasized the importance of interventions like TETFUND in supporting institutions to build facilities, provide equipment, and offer research grants to academic staff.
Speaking at the Ninth Convocation Ceremony of Federal University Oye Ekiti, Echono highlighted the challenges facing Nigerian universities, including poor leadership, inadequate ICT facilities, and brain drain. He stressed the need for increased funding to revitalize the university system and promote competitiveness in producing knowledge across various disciplines.
Echono also advocated for university autonomy as a solution to these challenges, allowing institutions to operate independently without external influence. He emphasized that autonomy in academic, administrative, and financial matters would enable universities to collaborate with industries, enhance infrastructure, and foster global partnerships for knowledge sharing and innovation.
In conclusion, Echono encouraged Federal University Oye Ekiti to uphold its commitment to knowledge dissemination, research, and community development.