PCU Vice-Chancellor urges government to extend funding to private universities, highlighting financial challenges amid Nigeria’s economic strain.
In response to Nigeria’s economic difficulties, the Vice-Chancellor of Precious Cornerstone University (PCU), Professor Timothy Adejumo, has called on the Federal Government to extend financial support to private tertiary institutions.
He voiced these concerns at a press conference in Ibadan on Wednesday, held in honour of the university’s upcoming third convocation ceremony.
Professor Adejumo highlighted the financial strain faced by private universities, which are struggling to keep up with operational costs as tuition fees can no longer adequately fund their activities.
“Private institutions are currently grappling with the economic situation as the income from student fees can no longer cover the operation costs,” he explained.
To alleviate this challenge, he urged the government to allow private institutions access to funding sources traditionally reserved for public universities, such as the Tertiary Education Trust Fund (TETFUND) and the Nigerian Education Loan Fund.
These funds could provide much-needed relief, enabling private universities to continue offering quality education despite the economic hardships.
“Private universities are helping the government to train students who might otherwise be without educational opportunities. The government should not discriminate,” Professor Adejumo stressed.
He emphasised that private institutions are significant contributors to Nigeria’s educational landscape, assisting in the nation’s mission to equip its youth with knowledge and skills. However, he noted that a lack of funding remains one of the most pressing challenges for these institutions.
The press conference also focused on PCU’s forthcoming convocation ceremony, where 118 graduates will be awarded degrees.
Among them, 14 students will graduate with First-Class honours, 65 with Second-Class Upper, 37 with Second-Class Lower, and 2 with Third-Class honours.
Professor Adejumo reiterated PCU’s dedication to developing well-rounded graduates who excel in both character and entrepreneurial skills, equipping them for Nigeria’s dynamic job market.
The call for support comes as private institutions across Nigeria face increased operational costs, threatening their sustainability.
Extending federal funding to private universities would enable them to continue educating Nigeria’s future leaders while helping to address the broader challenges facing the country’s education sector.
