The Deputy Speaker of the House of Representatives, Hon. Benjamin Kalu, has encouraged vice chancellors of Nigerian universities to utilize the contributions from alumni associations and other endowment funds as sources of funding for education…CONTINUE READING....KINDLY READ THE FULL STORY HERE▶

He believes that these innovative funding models can provide the necessary financial stability to propel universities to greater success.

Kalu made these recommendations in his goodwill message during the opening of the 61st anniversary and 36th Conference of the Committee of Vice Chancellors of Nigerian Universities (CVCNU) with the theme: “60 years of Leadership in Nigerian Universities,” held at Baze University in Abuja.

He emphasized that one of the key areas where Nigerian universities can pioneer sustainable development is through the adoption of innovative funding models.

Kalu’s stance is grounded in the idea of harnessing the extensive network of alumni and implementing the Triple-Helix model, which involves collaboration with industries and government entities.

He pointed out that this approach aligns with global best practices observed in countries like the United States, the United Kingdom, and Australia, where endowment funds managed by capital market fund managers and venture capitalists have played a crucial role in financing higher education.