The President of the University of Lagos Alumni Association, Engineer Ifeoluwa Oyedele, has urged the Federal Government to settle with the Academic Staff Union of the Universities (ASUU).
The Alumni President speaking with journalists yesterday in Lagos on their 55th Anniversary Dinner and Award coming up on October 17, 2025, said the issue of the ASUU salary didn’t just start with this present administration, but it’s heartwarming that the federal government has waded into this and will not allow schools to go on strike.
He said presently the system has had a very steady educational calendar for the past two years.
“I’m optimistic that the federal government will not allow us to go on strike. I’m sure that they will wade into and do the needful, but the truth of the matter is that there is a need for us to design a new model of financing education generally at all levels in Nigeria.
“The salaries of lecturers are nothing to write home about, and that’s why Nigeria suffer from an excessive brain drain. I don’t want to embarrass the professors by mentioning what they earn, but a university professor cannot even afford to send his or her children to the same university where he or she lectures. That has to change.
“In my remark, I made reference to Harvard University which is usually a reference point and many top Nigerians, top CEOs, when they go for three-month courses in Harvard, they wave the certificates as if they are better off than those who are educated in Nigeria. And I said that Harvard University has an endowment fund of 50.3 billion dollars.
“I jokingly told a friend of mine that if somebody gives Unilag 1 billion dollars, I will be the first to carry a placard to demand that the University of Lagos should be named after that person.
Knowing the quality of the management of the University of Lagos, I know that we can invest 1 billion dollars, and I know what we can make out of it. We must admit that this current administration has improved the percentage of allocation to education lately across the country.”
Oyedele also commended President Bola Tinubu for the introduction of the Nigeria educational loan fund, it’s a turning point in this country.
“The federal government and state should devise a new strategy for funding education. For instance, many of you have your children in private universities, and you know what you pay. I don’t want to talk about universities abroad, where we pay, I mean, the least, which will be about $20,000.
“If such an amount is translated into Naira, you know what that means. Even those of you who send your children to Ghana or South Africa you pay more than you pay in Nigeria, and that’s the truth. I mean, the cost of flying those children to Ghana is more than what you pay for medicine in a public university in Nigeria. So there has to be a new model for funding education.
The salaries of our lecturers are nothing to write about, and that’s why we suffer from an excessive brain drain, because a university professor, and I don’t want to embarrass them by mentioning what they earn, but a university professor cannot even afford to send his own children to the same university where he lectures.
“I was going to give an example of the amount of money that is available to the University of Lagos for electricity. In a whole year, what is in the budget that comes from the budget to the University of Lagos is 180 million naira.
“In one month, the main campus and the College of Medicine, the electricity bill was before we were moved to Band. It was 240 million naira. Now, in one month, after we have moved to Band A, that’s moved to 493 million naira.
“This year’s edition is particularly significant because it marks our 50th anniversary of the recognition dinner and Awards. It will take place at the Eko Hotel and Suites.
“We are honored that the special guest of honour will be His Excellency, the Vice President, Senator Kashim Shettima, and the chairman of the occasion is Dr. Olorogun Sony Kuku, while I will be the chief host.
“We also expect the Vice Chancellor of Unilag, Professor Folashade Ogunsola and other guests of honour at the event.
“Beyond the dinner and the event, we will mobilise direct support for projects that will touch lives and improve the quality of education at the University of Lagos. Scholarship support for students, a foundation for one thousand five hundred hotel will be built and rural development that will place the University of Lagos at par with its peers across the world.”
In his remarks, the Chairman of the Planning Committee, Otunba Lekan Ajisafe, said the guest lecturer was the former chairman of Shell, Dr. Mutiu Sumonu. “We have also selected great Nigerians. Actually, those who are able to make that list are those who have contributed immensely to the educational sector in Nigeria.
“I want to urge you all to spread the news and also let the whole world know what we are doing here in Unilag. The Alumni President just made a comment about what the federal government has done in the education sector. Nelfund is a game-changer.
“I want to call on spirited Nigerians to support the work of the federal government in the education sector, because whatever they invest will not be a waste, it’s actually an act of nation building and project Nigeria.”
