Don seeks review of legislation barring private varsities from TETFund, Student Loan

OYO, Nigeria — A former Vice Chancellor of the University of Ibadan, Prof. Abel Olayinka, has advocated for a review of the legislation barring private universities from benefiting from the Tertiary Education Trust Fund and the student loan scheme recently approved by the Federal Government.

He made this advocacy while delivering the 17th convocation lecture at Lead City University, Ibadan, titled, “Resolving the Trilemma of Access, Affordability, and Quality in the Nigerian University System: A Role for the Entrepreneur.”

He underscored the need that private institutions, which serve for public good and contribute to the nation's development, ought to be included in education benefits

According to him, “Although private universities were not established by the government, in reality, they are public entities that, in the long run, serve the public good."

He argued that the government should not disregard these institutions, as the students from private universities are assets to the country, participating in national programmes such as the National Youth Service Corps.

Olayinka also called for the private sector in education to be supported in complementing government efforts in providing quality education, given the gap in demand for higher education.

“The government must be interested in providing education for its citizens. However, the resources available to the government may not be enough to meet the growing demand for quality education,” Olayinka said.

He stressed that the private sector should be encouraged to bridge the educational gap, as private universities can help sustain the system while contributing to the economy through taxes and employment.

Olayinka also advocated the extension of the Federal Government’s Student Loan Scheme to students in private universities, noting that not all students in these institutions come from wealthy backgrounds.

In his address, the Vice Chancellor of Lead City University, Professor Kabir Adeyemi, highlighted the importance of the lecture in addressing pressing issues facing higher education in Nigeria.

He emphasised the university’s commitment to contributing solutions through entrepreneurship and called for a collaborative effort to empower future generations for a competitive global landscape.