President Bola Ahmed Tinubu has reiterated that the decision to remove the petroleum subsidy was made with the best intention of promoting a more sustainable and efficient energy landscape for Nigeria, as well as ensuring that the country’s development is not in any way stratified.
Speaking on Monday in Ilorin, the Kwara state capital, at the grand finale of the 37th and 38th Convocation ceremonies of the University of Ilorin, the President, who was represented by the Minister of State for Education, Yusuf Tanko Sununu, expressed optimism that the removal of subsidies would pave way for investments in alternative energy sources, infrastructure, and public services thereby making the country stronger and prosperous.
Tinubu, who is the Visitor to the University, added: “During this transition, let us remain united as a nation, supporting one another and working collectively towards finding solutions. It is a challenging journey, but by embracing innovation, conserving energy, we can navigate through these difficulties and and emerge stronger as a nation.
“The pain being experienced is undeniable and we sympathise with the difficulties this may be causing in our daily lives. While the short-term gains are expected with attendant pains, please look forward to the potential long-term benefits.”
On education funding, the President advocated public-private financing for Nigerian universities, adding that with the right mix of public and private financing, Nigerian universities would get the required resources they desperately need to elevate the level of university education in the country.
He said: “I call on corporate bodies, communities, and individuals to support our universities. The practice all over the world is that public universities benefit heavily from government funding, but they also augment their income through private financing.
“It was in realisation of this that the Federal Government signed into law the Students’ loan which will positively change the landscape of education in Nigeria. Our government will continue to champion the cause of impactful education as well as ensuring that both lecturers and students are provided the best facilities to enhance their individual capabilities.”
Earlier, the Vice-Chancellor, of the University of Ilorin, Prof Wahab Egbewole, hailed President Tinubu’s commitment to changing the fortunes of tertiary education, particularly his recent gesture, believing that all the other outstanding issues would be resolved to not only increase commitment and productivity in the system but also achieve the repositioning agenda.
He added: “We can only hope that the renewed hope agenda will properly reposition the university education. Nigeria cannot be a global player if we treat university education in the manner it is presently.”
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