Caleb VC: Why Private Varsities also Need TETFund

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Uchechukwu Nnaike

The Vice-Chancellor of Caleb University, Imota, Lagos, Professor Ayandiji Daniel Aina, has called on the federal government to release the Tertiary Education Trust Fund (TETFund) to support education and manpower training across board, saying that it should not be restricted to public universities alone.

Aina, who made this known while addressing journalists ahead of the institution’s sixth convocation ceremony, which will hold on October 14, 2016, argued that all universities whether public or private require funds for research and development, which is the function of TETFund.
“Private universities are not looking for TETFund to pay salaries; TETFund is to support educational advancement and manpower training.”

He also explained that private universities are not-for-profit, as the fees cannot meet the overhead cost, adding that they depend on their proprietors to support them financially to meet their obligations.

“Having traversed up to three private universities at the leadership level, I am competent to say that private universities in Nigeria, especially the mainstream ones are not for profit-making. Any private university that is worth its salt that has the full complement of staff, including professors cannot be talking of profit.”

On the activities marking the convocation, which will hold at the university’s Multipurpose Hall, the vice-chancellor said the Chief Executive Officer and Managing Director of Access Bank Group, Mr. Herbert Wigwe is expected to deliver the convocation lecture.

He said the ceremony, his first convocation as the vice-chancellor, will feature the conferment of first and second degrees on successful students who have been found worthy in character and learning. Other activities include reminiscences, games, novelty match, pre-convocation dinner and valedictory prayer service.