Josie
Prof. Abel Olorunnisola, the Vice Chancellor of
Dominion University Ibadan expresses his displeasure on the exclusion of
private universities in the Tertiary Education Trust Fund (TETFund) financial
intervention.
He made this known while addressing journalists at his campus ahead of the maiden convocation ceremony.
He deplored the misconception that private
universities are primarily for profit-making, but in truth, most of them are
not making profit, but are only rendering service and supporting the
socio-economic development of the country.
Olorunnisola said, “The TETFund came up as a
result of a strike in 1992. The law that set up the agency did not envision the
barrage of private universities we have now. The fund is a tax from the private
sector. All universities are producing manpower for the country.
“The private universities need to be included
because they are also contributing to the socio-economic development of the
country. It may not be in equal measure, but excluding them is not good at all.
The thinking that private universities are set up to make money is not right,
private universities are not for profit making. The goal is not to make money
but to provide the needed manpower for the country. For 20 years, some of them
may not make anything,” He lamented.
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