In a concerted effort to foster growth and advancement in Nigeria’s education sector, the federal government is considering the implementation of financial autonomy for tertiary institutions across the country. President Ahmed Tinubu revealed this strategic proposal during the 27th Convocation ceremony at the University of Abuja.
A statement released by the head of information and protocol at the Federal Ministry of Special Duties and Intergovernmental Affairs, Mrs. Anastasia Ogbonna, conveyed President Tinubu’s announcement. The President, represented by Minister Zaphaniah Jisalo, articulated that one of the key strategies outlined in the administration’s Renewed Hope Agenda is the introduction of financial autonomy for tertiary institutions. This initiative aims to encourage universities to diversify their funding sources by actively seeking grants and corporate sponsorships. Additionally, it seeks to promote self-sustainability and reduce reliance on the federal government.
The President emphasized that by granting financial autonomy to institutions, they would have the capacity to manage their finances effectively, thus enhancing their competitiveness, striving for excellence, and reducing disruptions caused by strikes. He underlined the administration’s unwavering commitment to reforming Nigeria’s education sector.
Prior to this announcement, the Vice Chancellor of the University of Abuja, Prof. Abdulrasheed Na’allah, reported that a total of 7,034 students participated in the 27th convocation of the institution, which spanned four years.
