The Vice-Chancellor of Wesley University, Prof. Samuel Obeka, has raised concerns over the lack of external funding for private universities in Nigeria, noting that it has significantly hindered their growth.
Speaking at the institution’s 18th matriculation ceremony, Obeka stated the exclusion of private universities from the Tertiary Education Trust Fund (TETFund), which has left these institutions struggling to provide the necessary infrastructure and research support.
Obeka explained that while public universities receive financial aid from the government, private institutions are left to rely solely on school fees and occasional private donations for their development.
He said this has led to funding gaps that continue to hamper their potential.
The VC urged the Federal Government to review the TETFund policy and extend its benefits to private universities, stating that these institutions play a vital role in the nation’s education system and contribute to national development just like their public counterparts.
Despite the funding challenges, Wesley University has made significant progress, including accreditation of 25 new programmes and the development of its permanent site.
Obeka also acknowledged the support from individuals and families, such as Hon. Abiola Makinde and the Badejo, Odejayi, and Akingbule families, whose donations have helped bridge the financial gaps.
Wesley University’s matriculation ceremony saw a record intake of 1,288 new students, marking the highest intake in the institution’s history.
Obeka expressed optimism that with adequate funding, the university could achieve even greater success in the future.
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