The Vice-Chancellor of Olabisi Onabanjo University (OOU), Ago-Iwoye, Prof. Ayodeji Agboola, has passionately appealed for the continued existence of the Tertiary Education Trust Fund (TETFund) to support the development of tertiary education in Nigeria

Prof. Agboola emphasized that TETFund has become indispensable as a significant intervention agency for universities and other tertiary education institutions and should not be scrapped or underfunded due to the establishment of the Nigerian Education Loan Fund (NELFUND).

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In a statement on Thursday, the Vice-Chancellor made this call while receiving the Chairman, South-West Zone of TETFund Board of Trustees, Sunday Adepoju, who led a delegation on a familiarization and project inspection visit to the University recently.

The Vice-Chancellor argued that both TETFund and NELFUND should operate simultaneously rather than allowing one to replace the other.

According to him, TETFund is a force to reckon with in Nigeria’s educational landscape, and its various interventions have been instrumental in addressing key challenges facing the country’s tertiary institutions.

He countered the calls in some quarters for the scrapping of TETFund because of the emergence of NELFUND, arguing that such a move would be counterproductive in the long run.

Prof. Agboola contended that with the existence of both agencies, the attrition rate of students in universities would be reduced, and infrastructural development in those institutions would also increase.

He said, “I want to say that without TETFund, maybe many universities would not be in existence. TETFund has been very significant in virtually all the development of this University, they also train academic staff for their PhDs.

I’m one of the beneficiaries of TETFund because my PhD was sponsored by TETFund at the University of Nottingham.”

“I am also aware that a couple of our colleagues make use of TETFund for conference attendance and training. Virtually all the buildings we have and in all our satellite campuses, if you take away the philanthropists and the alumni donations, the rest are TETFund and Needs Assessment.

I want to say that without TETFund, maybe many universities would not be in existence. TETFund has been very significant in virtually all the development of this University…

My plea is that NELFUND should not replace TETFund, and the funds being allocated to TETFund should also not be reduced.”

“If you give more money to NELFUND for student loans and the student does not have anywhere to sit, it would be another kettle of fish.

In this University, you can have 35,000 students applying every year, and there is only a quota of 7,000. Most of the teaching aids that we have come from interventions from TETFund.

So, if the government decides to reduce the funds being allocated to TETFund and give them to NELFUND, I think the government needs to look at it again.”

“No nation will develop better than the products of its universities. If we bring more students into the university and there are no facilities, it won’t be a good development. So, it will be better for us to have the two agencies simultaneously.”

The Vice-Chancellor noted that OOU had judiciously utilized funds allocated for TETFund projects in the institution, calling for more interventions from the agency to further advance the University.

Prof. Agboola also used the opportunity of the visit to appeal to the Federal Government to urgently reconsider its stance on the cancellation of overseas training for Nigerian scholars.

Speaking during the visit, Adepoju said his visit aimed to familiarize the Board of Trustees with some of the ongoing and completed projects of TETFund in the University.

Adepoju commended OOU and its Management for the adequate utilization of funds and implementation of TETFund projects, stressing that taxpayers’ money had been put to good use in the state-owned institution.

He said, “We have come, we have seen, and we will make our informed decision. With what we have seen so far, TETFund has done greatly for you in this University, and you are making effective use of the physical infrastructure given to you.

We are very pleased, and if there is an opportunity for TETFund to do more, it will be done. You have shown that taxpayers’ money is being put to use, and by the grace of God, it would be the beginning of more to come from TETFund.

I am happy that you are not having any abandoned projects and you are not having any unaccessed funds. That shows the quality of the Management this University has.

As we have been told, some Managements of institutions delay the payment of money to contractors, thereby causing inflation to the projects. That has not been the case in OOU.”