CBN projects at technical varsity inaugurated by Ajimobi

Oyo State governor, Sen. Abiola Ajimobi of on Tuesday in Ibadan inaugurated an e-library and administrative block built by the Central Bank of Nigeria (CBN) at the Technical University (TechU) in Ibadan. It was reported by The News Agency of Nigeria (NAN) that the university located on the Ibadan-Lagos expressway is an initiative of the Oyo State Government. Speaking at the inauguration, Ajimobi expressed appreciation to the board and management of CBN for the donation, promising that the facilities would be put to good use. The governor said the institution will offer degree programmes of the international standard through collaboration with relevant global institutions. “Our vision is to be a world-class institution for technical studies that are anchored on entrepreneurial practices, innovation and commitment to international best practices. “We plan to produce exceptional graduates who are not only socially conscious but technically competent enough to turn around the fortunes of the state and Nigeria,’’ he said. He stated that no government could single-handedly bear the huge responsibilities of providing qualitative education. The governor said partnership in repositioning the education sector in the state was desirable and appreciated. The CBN governor, Mr Godwin Emefiele, said that the country was experiencing acute shortage of high quality and world class educational institutions. Emefiele, who was represented by Mr Adebayo Adelabu, CBN Deputy Governor, Operations, said that this shortage informed the surge in the number of Nigerian students going abroad to seek quality education. “This has implications for the demand for foreign exchange and supply of qualified personnel to support the productive capacity of the country. “Our primary mandate at CBN includes maintenance of price and exchange rate stability, functional and stable financial system, effective payment system and credible currency. “We have a responsibility for development financing through regular intervention in critical sectors of the economy of which education is one to bridge the manpower and infrastructural deficits accumulated over time,’’ he said. He urged the beneficiaries, including staff and students of the university, to make use of the buildings and derive the full benefits for which the project was intended. “I want to take this opportunity to express the hope that the university management will adopt the necessary maintenance culture to keep the buildings and equipment for many years. “Government cannot fund education alone. The private sector equally has very important roles to play. “Tertiary institutions are supposed to be the drivers of research and innovation relevant to industry and commerce,’’ he said. The Pro-Chancellor of the university, Prof. Oyewusi Ibidapo-Obe, on his part, described the e-library as one of the best in the world. “We intend to work very hard to ensure that the minimum achievement of any student must be second class lower. “We are going to run the university as a scheme of 12 programmes,’’ he said. The Alaafin of Oyo, Oba Lamidi Adeyemi, and the Olubadan of Ibadanland, Oba Saliu Adetunji, in their remarks, commended the governor for establishing the university. The Royal father added that the governor had planted a legacy that would linger for many years, Adetunji, who was represented by High Chief Lekan Balogun, described the institution as a great innovation.