Poly Ibadan NASU Honours Kola-Daisi, Lauds His Solutions For Alternative Funding For Tertiary Schools
The senatorial candidate of the Accord for Oyo South, Mr. Idris Kolapo Kola-Daisi has rooted for the need for tertiary institutions to embrace alternative funding as a mainstay approach to solving the perennial issue of higher education funding in Nigeria. This has received high praise from Ibadan Polytechnic members of the Non-Academic Staff Union of Educational and Associated Institutions (NASU).
Kola-Daisi stated this while presenting a paper at The Polytechnic, Ibadan, where the union had invited him to speak as the Guest of Honour in commemoration of their week-long NASU week celebrations.
In a paper titled “Funding for the Development of our Tertiary Institutions: How Else Can We Do It?” the youthful candidate with 23 years of experience in raising funds for both small and large scale franchises, highlighted 10 viable alternative sources of funding that tertiary institutions must seriously consider to thrive without sole dependence on government funding.
“It suffices to say that the government funding and dependence on tuition alone cannot successfully bear the vision and goals our tertiary institutions are set up for. I mean, this is pretty clear that the government has found it increasingly difficult to fund education as its annual budgetary allocation has not even matched the quality of higher education recommended by UNESCO or the quality or our young people deserve”
He added, “The solution of alternative funding is a thing and can be wholly successful. By some estimates, Harvard receives an average of $3 million a day. Oxford and Cambridge have conducted successful £1 billion campaigns. Stanford has an endowment of more than $20 billion and received four gifts of at least $100 million in 2015 alone.”
MR. Kolapo Kola-Daisi listed the setting up of vibrant Endowment funds, setting up potential companies through Research and Development efforts, seeking global partnerships by raising globally-relevant solutions, and establishing partnerships with companies for direct funding through Corporate Social Responsibility as part of his alternative solutions for higher education funding.
He also highlighted showcasing impact to attract Foreign Grants, blocking leakages and preventing wastage, and also the pursing the possibility of mergers as complementary alternatives.
“I am strongly convinced that alternative funding for our schools must be fully adopted and taken up as serious faculties. Tertiary institutions need to become professional and successful in attracting donors, stewarding them, and running fundraising campaigns. If they are diligently researched, administered, and maintained, they will guarantee a steady stream of funding for our schools.”, Mr. Kola-Daisi concluded.
The Chartered Banker and Accountant was praised in the day for the noble solutions he offered to solve the funding crisis hitting the sector. He was further honoured on the day by the NASU body with an award of recognition for his efforts so far and also his efforts towards the welfare of its members.