From: Femi Oyelola, Kaduna
Former Vice President, Namadi Sambo has urged the Federal Government to provide funding support to private universities in the country.
He made the appeal while speaking at the fourth quarterly delegates meeting of the Conference of Alumni Association of Nigerian Universities (CAANU) held at the weekend in Kaduna.
Sambo said such move will boost university education and fast-track a knowledge based society.
The former Vice President said such action is urgently required to end interruptions in academic activities and exponential rise in travel for education abroad.
According to him, private Universities deserve some support in the area of access to financing for research and development at a single digit interest rate, through the Central Bank, especially in area of medicine, science and information technology.
Sambo who is the current Chancellor and Chairman of Council of Baze University, Abuja urged the Federal Government to review the act that established TETFUND to create a revolving fund and project interventions for private universities in Nigeria.
He said such initiative will ensure funding for research and infrastructural development with 1% repayment plan to ensure stability in university education and enhance the drive for education for all in the country.
Sambo further urged delegates at the conference to brainstorm on creating alternative source of funding for University education in Nigeria.
According to the former Vice President “Government alone cannot fund tertiary education in its entirety, considering the reality of limited resources of government and the increase of competing demands for funds in other critical sectors of governance.”