KEYNOTE ADDRESS DELIVERED BY THE VICE-CHANCELLOR, PROFESSOR SAMUEL OYE BANDELE AT THE INTERNALLY GENERATED REVENUE (IGR) SUMMIT HOLDING AT EKITI STATE UNIVERSITY BETWEEN 26TH AND 28TH JANUARY, 2016.
The Chairman and Pro-Chancellor,
Members of our Governing Council,
Directors of Academic Programmes,
Distinguished Ladies and Gentlemen
I am delighted to be in your midst today to give this keynote address. Let me give all the glory to God for making this day a reality. Not unto us, but unto Him be all the glory. It will go down in history that this event is holding today to change the financial landscape of our University. Universities around the globe are the engine rooms of change. This underscore the need for this summit. There is a noticeable dwindling of resources at all levels of governance in the country and the best time to rise up to the challenge is now.
In my inauguration speech on December 2. 2015; I boldly declared that we would take courses opposite the existing customs and tradition.
There will be IGR SUMMIT to reposition EKSU IGR. Every Faculty is to be viable IGR-base, turning resources, ideas, skills and knowledge to wealth with entrepreneurial spirit. IGR is to be improved through fees by increased enrollment of students on Part-Time, Affiliate, Sandwich and Regular programmes. Distance Learning, Two-year Degree for HND holders, Diploma, Adult working class and On-line academic programmes. EKSU Secondary School will be established to generate fund. There will be commercial agriculture in Poultry, Piggery, Fishery, Plantain, Maize, Citrus, cassava and establishment of EKSU Holdings as Limited Company to manage consumable shops, bookshop, sachet, bottled water, bread, brandings and souvenirs for income generation.
EKSU will operate Due Process in all its transactions for prudent management of
resources: Money, Men, Machines and Materials. Registry is to imbibe fiscal ethics, bursary to evolve best practices in budgeting and financial expenditure control while the Audit Department will be empowered for unhindered internal control mechanisms.
There will be Cost-Effect Analysis of all spending. I strongly believe we have all these in abundance. I pointed out then that every Faculty should be viable economically.
On the part of my Management team, we have adopted due process in all that we do. The price tag for greatness is responsibility. Members of my team have adopted my speed as theirs. We have chosen to lead responsibly and make this University viable. No one is capable of clapping successfully with one hand. No one can succeed alone, that is the major reason behind the convening of this meeting. Together each of us can achieve more.
Gone are the days when visitors or proprietors of Universities alone could single-handedly fund the growth and development of institutions. The meat of the issue is to see our University in prosperity. I shall continue to maintain a zero tolerance for corruption and wastage.
A look at highly rated universities in the world reveals that they earn a lot from donations from philanthropists and alumni. Yale University, for instance realized in the fiscal year ending June 30, 2015, more than $21.3 million or N6.3billion from its alumni. This is a lot of money that can save our University from a lot of financial harassment. I know many novel ways of raising fund for development will no doubt come to the fore at this all important summit.
I am convinced that the Summit will evaluate the current practices and resources and advise the University so as to turn the tide to favour her development. I am particularly enthused with the array of speakers at this event. They are men who have cut their teeth in University administration. They are proven men from whose fountain of wisdom we are going to drink. We are surely going to come up with lasting recommendations that will banish lack permanently in our University.
Mr. Ayo Ogunruku, former Registrar of Obafemi Awolowo University, Ile-Ife, Professor Saburi Adesanya, the current Vice-Chancellor, Olabisi Onabanjo University, Ago Iwoye and Mr. Tolu Moyinoluwa, Managing Director, The Federal Polytechnic Ventures, Ado-Ekiti.
Let me welcome everyone. I can assure you all that this is not just going to be a talk shop, whatever recommendations that emanate from the three days summit will be applied in earnest. Very soon, EKSU will become the cynosure of all eyes. Do not hold back what you know can benefit the University, give your pieces of advice and let us see to it that EKSU is on the path to greatness.
The higher institution should ordinarily be high density money generation environment. The vexation or worry is that the opposite is the case because the resources, ideas, skills and knowledge base remain untapped to the optimum. The staff, students, community dwellers or stake holders groan under the yoke of poverty, penury and problems in the midst of plenty. The government that used to shoulder the financial responsibilities of higher institutions are in recent time equally crippled by global economic downtrend and recesses. The undeniable reality is however that the unmitigated demands from students and staff continue to increase astronomically. The wave of unrest among students, strikes among staff and complaints from the stakeholders point to a devastation, devaluation and destitution of a hither to enviable citadel of knowledge, particularly the university. The academic activities are incessantly distrupted, programmes are destroyed and calendar rendered unstable.
The public institutions are greatly hit by the above mentioned. Initial total dependence on subventions from Government, whether recurrent or capital, point to a deliberate reluctance of public institutions to look inward to generate revenue to run their institutions. The hide and seek game between institutions and government could be reported here. Government are not able to fulfil their financial obligations to institutions and until recently would not give any clear defence for such inadequacy. Institutions on their own part generate money and hides such from government with the fear that if such internally generated fund is made open to Government their legitimate financial rights from government will be denied. It has however become secret that government are currently facing financial hardship and had informed relevant sectors to look inward.
Great value is attached to this IGR summit for its derivative should be aa blue print for EKSU IGR projects and prospects. All participants are invited to very rigorous but enriching three days of high level brainstorming on the wide latitude of opportunities available on the IGR fertile landscape. I plead that we should appreciate the facts on ground. This is that the solution to the epidemic scourge of global poverty is the aggressive drive towards Internally Generated Revenue. The value the University Council and management place on this Summit is high. The Summit is expected to holistically look at the current practices in Nigerian higher institutions and logically extract those that will thrive at EKSU, noting our peculiar environmental, human and material platforms. The following are sacrosanct at adding value to the summit:
The Vehicle to carry the IGR innovative programmes and projects that will be the product of this Summit are the resources available in the University. It is no pride to submit here that the University is rich in resources and should not be poor in riches. The IGR initiatives of EKSU will be driven by
- Teaching Staff : Intellectualism
- Non-Teaching Staff : Interest
- Faculties : Involvement
- Department : Innovation
- Directorates : Initiatives
- Institutes and Units : Improvement
- Centres :Income
- Banks : Influence
- Contractors : Impact
- Donors : Internationalisation
- Parents and other Stakeholders : Information
- Government : Impartiality
- Pastors : Intercessions
- And so on!
It behooves me to state here that Individuals, Units, Department , Faculties and so on will derive benefits from the University hence forth based on their successful IGR platforms. The days of passively expecting manna to fall from heaven is history at EKSU. Some Faculties and Departments or even individual cannot be sleeping while others are having sleepless night labouring to create wealth for the University. The University, as an outshoot or outcome of this Summit, should be able to come up with parameters to measure the contributions of each Faculty or Department or Individual, to the IGR drive of the University.
This summit is an answer to the prayers of outright deliverance of EKSU from the oppression of poverty and lack. Eminent scholars have been invited to showcase their experiences and successes in order to fashion out the IGR blueprint for EKSU. Memoranda have been submitted and some will definitely be presented. The summit is expected to be the foundation of a successful take-off of a viable IGR project in EKSU.
Permit me in ending this address to appreciate our very very eminent resource persons and the IGR Summit committee members under the indefatigable chairmanship of Professor P.O. Oladele, Dean Faculty of Management of this our great University.
Thank you all for listening.
Professor Samuel Oye Bandele,
Ekiti State University,