October 30, 2024 – Ilara-Mokin, Ondo State
The Vice-Chancellor of Elizade University, Prof. Kayode Ijadunola, has expressed grave concerns about the sustainability of Nigerian higher education institutions amid soaring energy costs. Speaking at a press conference ahead of the university’s upcoming convocation ceremonies, Ijadunola highlighted that the cost of electricity has tripled in recent months, severely impacting the financial viability of many universities.
“The greatest challenge facing most institutions of higher learning in Nigeria today is the cost of energy,” Ijadunola stated. He attributed the financial strain to the newly implemented Band A electricity billing system by electricity distribution companies (DISCOs), which has resulted in skyrocketing monthly bills while power supply remains erratic.
“Power costs threaten the survival of the university system in 2025 if the current situation is not addressed by the relevant government authorities,” he warned, noting that Elizade University has been relying heavily on expensive diesel generators for backup power.
The convocation, scheduled for November 6, will see 484 graduates awarded degrees from the 2022/2023 and 2023/2024 academic sessions. Among the graduates, 51 will receive First Class honors, with additional awards for postgraduate diplomas and doctoral degrees.
This year’s ceremonies are particularly significant as they mark the first time Elizade University will confer doctoral degrees, including honorary doctorates to distinguished figures such as Apostle Folorunso Alakija and Chief Tunde Afolabi, both recognized for their contributions to education and philanthropy in Nigeria.
Ijadunola also addressed the broader issue of brain drain, emphasizing that the ongoing mass migration of skilled professionals is increasingly hindering the university’s ability to attract and retain staff, particularly in health sectors. He urged for a more supportive national environment to encourage young people to pursue careers in Nigeria.
Additionally, the Vice-Chancellor called on government agencies to extend support to private universities through the Tertiary Education Trust Fund (TETFUND) and the newly introduced Federal education loan scheme (NELFUND), stressing that these institutions play a vital role in the nation’s educational landscape.
“As a responsible corporate entity, Elizade University continues to meet its tax obligations but seeks fair inclusion in government support schemes to ensure the continued delivery of quality education,” Ijadunola concluded.
