BABALAKIN URGES ALTERNATIVE FUNDING OF EDUCATION
AKURE-THE Chairman, Committee of Pro-Chancellors of Nigerian Federal Universities, Dr. Wale Babalakin, yesterday advocated that oil, construction, telecommunication and banking firms were well placed to contribute to the funding of the educational sector in the country as a panacea to the downturn in the sector.
Babalakin spoke at a lecture to mark the third convocation of the Adekunle Ajasin University, Akungba Akoko. He said 'there is the urgent need to explore alternative means of funding education in the country.'
Speaking on the topic: 'Funding the Educational Sector; The need for Original Thinking', Babalakin said that 'Banks and other financial institutions should be encouraged to give loans to students while companies in Nigeria should be encouraged to provide research grants.
According to him, 'a comparison of the Nigerian educational sector to peer countries' like India, Ghana and Egypt makes it obvious that the government is incapable of solely funding education.'