By Gabriel Dike
Rector of Yaba College of Technology (YABATECH), Mr. Obafemi Omokungbe, has revealed that the institution is planning a N50 billion endowment fund to improve facilities and restore the lost glory of the institution.
Omokungbe disclosed this, yesterday, when management of The Sun Publishing Limited led by the Managing Director/Editor-in-Chief, Mr. Onuoha Ukeh, paid an official visit to the institution.
He said government cannot fund tertiary institutions alone, thus the need for an endowment fund to expand existing facilities and put up new ones.
“The management of YABATECH has come up with N50 billion endowment. Our plan is to restore the old glory of the college. That is why we are instituting the 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 an endowment fund to carry out this task.
‘’We are also trying to keep abreast with latest development in the economy and the polytechnic system. We want to build standard laboratories, exchange programmes for staff, provide offices and improved on existing facilities and introduce new courses that are beneficiary to the nation.’’
Omokungbe described Ukeh’s visit as home-coming being an alumnus of YABATECH.
He assured The Sun of cordial working and mutually beneficial relationship.
The rector described The Sun as a national newspaper and urged the management to partner with the college, especially in mentorship of students in the Department of Mass Communication, among others.
A former student of the School of Arts and Design, Ukeh explained that the visit was to identify with the success story of YABATECH.
He said education was key to preparing Nigerian children for future leadership in government, industry and corporate world.
The media chief said quality education was non-negotiable in ongoing efforts to give Nigerian children the solid foundation for their future and applauded YABATECH for doing its best in this regard, while urging the institution’s management to do more.