Folasade Ogunsola, the vice-chancellor of the University of Lagos (UNILAG), has stated that the institution will not be reversing the recently increased fees.
Ogunsola made this announcement during a virtual press briefing on Saturday, September 9, 2023, where she addressed the ongoing student protests against the fee hike.
According to Ogunsola, the decision to increase the fees was made after a thorough review of the university’s expenses.
She explained that the institution was facing significant overhead costs, which necessitated the fee adjustment.
Despite calls from students and other stakeholders to revert the fees, Ogunsola emphasized that it would be impossible to do so.
She mentioned that a committee had been set up to evaluate the university’s financial situation, and the fee increase was deemed necessary.
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The recent fee hike has sparked protests among UNILAG students, who argue that the increase is unfair and unaffordable for many.
However, the vice-chancellor’s statement indicates that the university administration is standing firm on its decision.
“There have been calls to return fees, but that is impossible. We had a committee to review our bills, and we needed to increase the price.
Our electricity bill is about N1.7 billion per annum, and the cost of conducting examinations is now four times what it was last year. The university needs funds to meet its daily services,” she said.
The vice-chancellor reiterated that the cost of quality education must be paid if the country wants quality education. She said, “If the university is to provide quality education, we don’t have a choice but to increase fees.
READ ALSO: UNILAG students threaten to remobilise for much larger protest
Somebody has to pay for quality education. If the government comes in now and asks us to reverse, we will.”
She further explained that for the past 15 years, the university has not increased its fees. Hence, the overhead cost became an accumulated financial challenge to the management.
The university revealed that the institution spends about N100 to N200 million on accreditation annually. The service cost is over N500 million, and what the university gets from internally generated revenue does not cover its expenses.
Besides, she said the prevailing surge in the cost of living also affects the university’s finances. “We are not unaware of the problem in the country. The university is even a victim of it,” she said.
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