The Vice Chancellor of the University of Ibadan (UI), Prof. Abel Idowu Olayinka, has stated that, for the University to maintain its pride of place, it must continue to explore and increase alternative sources of income available to it, given the paucity of funds from government.
This statement was made recently, at the Ground breaking ceremony of the Primus Mall, UI, Ibadan, a public private partnership initiative of the University of Ibadan.
In his words: “If we (UI) hope to maintain our pride of place, and we do, by remaining locally relevant and globally competitive, it behooves on us to support any tendency to increase alternative sources of funding by establishing relationships with external communities”.
In his address, Prof. Olayinka expressed his joy that the Primus Mall, which was conceived 7 years ago, during the tenure of his predecessor, Prof. I. F. Adewole through the initiative of the University Advancement Centre, UI, and the VGS Homeland Nigeria Ltd has finally come to be.
Describing it as a novel initiative, he stated that the project was a cooperative arrangement between UI and its partners, to be driven by the Primus1948 Ltd.
The Vice Chancellor expressed great optimism that the initiative will be mutually rewarding and enhance increased private financial support for the University, thereby contributing towards addressing the challenges of inadequate resources/funding in the University.
He appreciated all stakeholders on the project for their patience and resilience in making it a reality.
In her own remarks, the CEO of the collaborating organization, and a distinguished alumnae of the University, Mrs Bose Sogunle expressed delight, not only at the opportunity to partner with the University, but also to give back to her alma mater.
Describing the project as monumental, Mrs Sogunle reiterated the fact that the Primus Mall is a modern facility that seeks to provide a good retailing, entertainment and shopping experience for the University community and its surrounding neighborhood.
She affirmed that the project will bring a lot of value to the University community and other residents within the neighborhood, and would provide opportunities for wealth creation and employment.
She expressed gratitude to the University and other partners for the opportunity for collaboration.
Performing the ground breaking ceremony at the occasion were the Vice Chancellor, Prof. Olayinka, in the company of the Chairman/ Pro Chancellor of the University, Nde Joshua Waklek, ably represented by Dr Jaju, a member of UI Governing council, as well as the CEO, VGC Homeland Nigeria Ltd, Mrs Bose Sogunle.
Present at the occasion were stakeholders from the University community, as well as staff and representatives of partnering organizations.