By Gabriel Dike
Rector of Yaba College of Technology (YABATECH), Mr. Obafemi Omokungbe, has revealed that the institution is planning a N50billion endowment fund to improve facilities and restore the lost glory of the institution.
Omokungbe, an engineer, disclosed this on Tuesday when a Management team of The Sun Publishing Limited, publishers of Daily Sun, Saturday Sun, Sunday Sun and Sporting Sun, led by the Managing Director/Editor-in-Chief, Mr. Onuoha Ukeh, paid the institution a courtesy visit.
He said the college funding was not sufficient and that government cannot fund tertiary institutions alone, thus the need for the endowment fund to expand existing facilities and put up new ones.
His words: ”The management of YABATECH has come up with N50billion endowment. Our plan is to restore the old glory of the college. That is why we are instituting an endowment fund.
”Another major reason we came up with the endowment fund is that the students population has increased. The facilities we used 30 to 40 years ago are the same. We can’t wait for government funds, so we need endowment fund to carry out this task.
”We are also trying to keep abreast of the latest development in the economy and the polytechnic system. We want to build standard laboratory, exchange programmes for staff, provide offices and improved on existing facilities and introduce new courses that are beneficiary to the nation.”
Omokungbe, who referred to Ukeh as ‘Omowale,’ as The Sun MD is an alumnus of YABATECH, described his visit as home coming.
He assured The Sun management of a cordial working and mutually beneficial relationship, including patronage.
The rector described The Sun as a national newspaper and urged the management to partner with the college, as regards mentorship of the students in the Department of Mass Communication, among others.
Earlier, Mr. Ukeh, described the visit as home coming been a former student of the School of Arts and Design. He explained that the visit is to identify with the success story of YABATECH.
He said that education was key to preparing Nigerian children for future leadership, in government industry and corporate world.
Ukeh emphasized that to give our children solid foundation for future attainment, quality education is non-negotiable.
He praised YABATECH for doing its best in this regard, while urging the institution’s management to do more.