The Governing Council and management of the Yaba College of Technology (YABATECH) are committed to addressing infrastructure deficit and other challenges in the 73-year-old institution with its N50bn endowment fund.
In a statement, Rector of YABATECH, Obafemi Omokungbe, noted that the idea of the endowment fund was raised in 2018, when he assumed office after observing the poor state of infrastructure and the dwindling resources from government.
He said: “The college is 73 years old with attendant challenges of dilapidated infrastructure and obsolete and non-functional equipment in our laboratories and workshops. These require much funds to bring the college to a world class standard. The management are aware that government alone cannot salvage the current situation, hence the decision to institute an endowment fund of N50 billion.”
He also noted that development of the Epe campus was ongoing, hence, it requires urgent funding.
“The Yaba and Epe campuses require urgent and sustained infrastructural development to meet current and future obligations as a college of technology. It is, therefore, worthwhile to institute an endowment fund if the college is to remain globally relevant,” he added.
Omokungbe, who hailed the alumni for contributing to its development, stated that the college had made tremendous stride in fulfilling its mandate of producing high-level manpower for the development of the nation. Therefore, it is imperative to support the repositioning of the institution.
Chairman of the governing council, Lateef Fagbemi, called on well-meaning Nigerians, corporate organisations and donor agencies to support the growth of the institution.
“It is no longer news that the Federal Government investment in education has been dwindling daily in view of limited resources. More than any other tertiary institutions in Nigeria, the college requires endowment fund because equipment for research and development are obsolete, space constraints, increase in students’ population, among others,” he said.
The institution aims to build a new medical centre, multi-storey car park, students’ affairs building, hostels, among others.
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