Lagos to set up tertiary education trust fund
Governor Babajide Sanwo-Olu on Thursday said the Lagos State government will establish the State Tertiary Education Trust Fund which will create a financial model that will sustain its universities.
He spoke when the Visitation Panel to the Lagos State University (LASU), presented its report to him at the State House in Marina.
Sanwo-Olu said the panel, set up on November 16, 2021, was to ensure the university management remained focused on performance and have a clean bill in where and what to do.
Establishing a tertiary education trust fund was part of the recommendations in the panel’s report, especially since the state now has three universities to cater for.
Governor Sanwo-Olu said there was a need to establish the trust fund to enable the university management stay focused, and also help the government leave a good legacy in the education sector.
He therefore directed his Special Adviser on Education, Tokunbo Wahab, and Commissioner for Justice, Moyosore Onigbanjo, to work out modalities on the establishment of the fund.
The governor also promised to set up a panel, within seven days, to review and diagnose the recommendations for the future and posterity sake.
He said: “I can assure you that your 322-page report will be attended to. A panel will be constituted in seven days to review the recommendations and present to the government for implementation. Lagos can continue to set the benchmark and beacon of hope in Nigeria.”
Governor Sanwo-Olu also appealed to the Federal Government and the Academic Staff Union of Universities( ASUU), to resolve their impasse so students can return to their campuses.
According to him, there are bound to be issues, but the Lagos model where issues are resolved before degenerating into full strike can be copied.
Chairman of the Visitation Panel, Prof. Abdulrahman Bello said the panel received 40 memoranda from the public, including submissions from the Academic Staff Union of Universities and the Senior Staff Association of Nigerian Universities (SSANU), which contained 35 and 23 separate issues, for consideration.
He said: “This is a 322-page report with 21 pages of Executive Summary and annexures. Your Excellency, I like to congratulate you because your university is healthy and progressive. The Panel’s findings indicate that LASU has shed the toga of an image of insecurity and confusion which existed as at the time of the 2009 Visitation.
“It has not only been found to be relatively secure, it has developed academically to the point of international recognition. The fine details of what would need to be done have been painfully catalogued under each Term of Reference.
“These include issues with academic and infrastructural needs, as well as other consideration for the government, from funding needs to amendments to the University Law to ensure good governance and peace.
“Attention should be paid to the Epe campus for upgrade in its infrastructure to meet the standard of the university.
“The Panel also recommends the consideration of the establishment of a Lagos State Tertiary Education Trust Fund, LASTETFUND, as a specialised funding agent to meet the infrastructural needs of the institutions without conflict with the other needs of government.”
