The Vice Chancellor of the Elizabe University, Ilara Mokin, Ondo State, Prof. Olukayode Ijadunola, has called on the Federal Government to urgently find solutions to the economic crisis facing the country.
The don made the call at the maiden edition of the Elizade University Bursary Lecture, held on the campus of the institution on Friday.
Ijadunola said, “The Federal Government should urgently come up with a creative way of tackling the nation’s economic downturn as a means of safe-guarding the future of Nigerian youths.
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“It is very clear that university education in Nigeria is under serious threat not on account of content but on account of the negative impact of a depressed economy. But for TETFund, many public universities in Nigeria would have closed shops; and for the private universities, the economy had become hostile.”
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Speaking on the topic, ‘Financial challenges in the Nigerian university sector in a volatile and uncertain economy,’ the guest lecturer and Vice Chancellor of the Afe Babalola Univerisity, Ado Ekiti, Ekiti State, Prof.
Smaranda Olarinde, said appropriate cutting-edge technology and the use of artificial intelligence must be deployed in management in the university system.
According to her, the cost of university education is fast increasing, making a single source of funding unrealistic and unsustainable even as government budget for education in Nigeria is ridiculously low at 6.39 per cent of the total budget against UNESCO ( United Nations Educational, Scientific and Cultural Organization) irreducible minimum benchmark recommendation of 15 pe rcent.
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