Author: user user

The Director-General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama, has called on private universities in Nigeria to explore capital market financing as a sustainable alternative to dependence on tuition fees for infrastructure development and long-term institutional growth.

Agama said the continued reliance on students’ fees to finance capital-intensive projects was unsustainable, warning that such a funding model could undermine the capacity of private universities to expand their facilities, improve academic standards and compete globally.

He made the call while delivering the 16th convocation lecture of Achievers University, Owo, Ondo State, titled ‘From Grants to Growth: Financing Nigeria’s Universities Through the Capital Market’.

The SEC boss described the situation as a ‘tuition trap’, arguing that universities could not achieve sustainable development if their major source of income remained annual student payments.

According to him, long-term investments in university infrastructure require equally long-term financing arrangements rather than dependence on short-term revenue from tuition fees.

‘A university financed only by tuition is not self-funding. It is hand-to-mouth. Everything required to fund this university properly already exists inside the Nigerian financial system. You raised capital when it was hard. Why are you living on fees now that it is easy?’ he queried.

Agama observed that although government resources were limited and competed for by several sectors, Nigeria’s capital market offered enormous opportunities that private universities could harness to address their funding challenges.

He said the country’s pension fund industry, with assets valued at over N31.5 trillion, represented a huge pool of long-term investment resources that could be channelled into university development through appropriate financial instruments.

He identified university bonds, Sukuk and Real Estate Investment Trusts (REITs) as viable financing options, particularly for infrastructure projects, student accommodation and other income-generating assets.

The SEC director-general advised Achievers University to explore the commercial potential of its student accommodation facilities by developing them into structured investment assets capable of attracting institutional investors.

He explained that pension fund managers were interested in long-term investment opportunities, adding that universities could attract such funds through ring-fenced Special Purpose Vehicles (SPVs) designed to finance specific projects.

Agama, however, stressed that accessing the capital market would require universities to embrace transparency, maintain timely audited financial statements and establish a clear separation between institutional assets and those of their promoters.

He also described the introduction of the student loan scheme as a commendable government initiative, disclosing that there were considerations towards extending the facility to students in private universities.

Drawing from the history of Achievers University, Agama recalled that the institution was established through a private placement involving shareholders, noting that its foundation was itself an example of how the capital market could support university development.

He said the university could build on that foundation by returning to the capital market to mobilise funds for its next phase of growth.

Earlier, the Pro-Chancellor of Achievers University, Prof. Bode Ayorinde, said the institution aspired to become the best university in Africa but identified funding constraints as one of the major challenges confronting the realisation of that ambition.

Ayorinde expressed optimism that accessing the capital market would provide the institution with funds at a lower cost, ease its financial burden and ultimately reduce the pressure on students through lower tuition fees.

He added that increased student enrolment would also help reduce the cost per student, thereby improving the institution’s financial sustainability and affordability.

It was a parade of talent and skills on Friday in Ibadan as students from public secondary schools across the South-West gathered at the University of Ibadan to demonstrate digital applications they had developed.

Two schools developed applications to combat terrorism and banditry, while other projects targeted internet scams, examination malpractice and challenges in social interaction, learning and assessment.

Students of Aramoko District Commercial Secondary School, who came first, designed a mobile application that provides users with a quick and accessible means of seeking assistance when faced with kidnapping, banditry and other security emergencies.

The app also enables users to share their locations with trusted contacts.

Presenting the application at the second Byte Busters Coding Club Showcase, held on Friday at the International Conference Centre, University of Ibadan, the Aramoko school team leader, Johnny Pius said it was developed to help tackle kidnapping, banditry and other crimes.

The 2026 showcase was organised under the Digital Education for Innovation and Economic Development (DEFINED) Project of the Odu’a Investment Foundation.

The school team leader added that the app would enable users to establish communication with trusted contacts and obtain assistance when in danger.

‘The Safe Guardian App is a personal safety companion that allows users to make quick responses when they find themselves in emergency situations. It is designed to enable users to share their live locations with their trusted contacts whenever they are in danger,’ he said.

Pius said the application was also intended to help curb kidnapping, banditry and other security threats by providing a safer means of calling for help.

‘Safety is important, so having a mobile device application like the Safe Guardian App on your phone provides a safer way of asking for assistance and calling for help when you find yourself in an emergency situation,’ he said.

Other projects featured at the showcase included an artificial intelligence-powered computer-based test platform; Tomato AI, which explores technological solutions in agriculture; an emergency response system; a sign language application; and an AI-powered marketplace for local traders.

The students also presented solutions aimed at reducing post-harvest losses in maize production, as well as a Yoruba-English translation application.

The projects demonstrated how students were applying digital skills acquired through the programme to address challenges in education, agriculture, commerce, communication and public safety.

In her remarks, the Chairman of the Advisory Council of the Odu’a Investment Foundation, Ambassador Olatokunbo Awolowo Dosumu, said the increasing sophistication of the students’ projects demonstrated the importance of giving young people opportunities to help shape the digital future.

While commending the pivotal role of the DEFINED Project director, Professor Seun Kolade, she said the foundation remained committed to expanding access to technological education, particularly among public school pupils.

‘Our young people are growing up in a world in which artificial intelligence, digital platforms and new technologies will shape how they learn, work, communicate and create,’ she said.

‘It is therefore not enough for them to become passive users of technologies developed elsewhere. We must give them the confidence and capability to participate actively in shaping the digital future.

‘I am especially delighted by the continued expansion of the programme and by the increasing sophistication of the projects being developed by the students. From applications addressing learning and accessibility to ideas connected with agriculture, commerce, public safety and indigenous language, these young people are showing us what becomes possible when talent is given opportunity.

‘The foundation has also widened its approach through the Digital Literacy Training for Teachers programme, recognising that sustainable transformation in education must include those who stand in our classrooms every day.

‘By equipping teachers with practical digital skills and using a train-the-trainer model, we are building capacity that can multiply far beyond the first cohort.

‘The success of Byte Busters should strengthen our determination to reach more pupils, particularly in underserved communities. There are many more children across our region with the same curiosity and potential as those presenting here today. What they need is access.’

She, therefore, called on the six owner states, corporate partners, philanthropists, old students’ associations and friends of the foundation to deepen their support for the initiative.

The Chairman of Odu’a Investment Company Limited, Dr Tola Kasali, represented by a director of the company, described the programme as an investment in human capital and the future economic development of the South-West.

He said the region’s future prosperity depended partly on the quality of education, skills and opportunities available to its young people.

According to him, digital education has become essential in preparing young people for the demands of a knowledge-driven global economy.

Kasali noted that the Byte Busters Coding Club exposed public secondary school students to coding, artificial intelligence, computational thinking and digital creativity, enabling them to develop practical solutions to societal challenges.

He also called for stronger collaboration among governments, educational institutions, the private sector, technology companies and community organisations to bridge the digital skills gap.

In his address, the Project Director of DEFINED, Professor Seun Kolade, said the quality of the projects showed that public school pupils could become creators of technology when given the necessary exposure and opportunities.

Kolade disclosed that the programme, which began last year with approximately 100 pupils from nine centres, had expanded to 20 centres across the six South-West states, covering 18 local government areas.

He said more than 4,500 learners had benefited from the initiative, while over 220 pupils were expected to participate in this year’s showcase.

He said the programme’s progress had shifted attention from whether public school pupils could acquire digital skills to how many more children could be reached.

‘The question now is bigger: how many of our children are we prepared to give this opportunity, and how boldly are we prepared to invest in their capacity to shape the future?’ he said.

According to him, the projects reflected a transition from access to technology to the ability to use it independently, with young people moving beyond learning how technology works to applying it to real-life problems.

He cited the students’ innovations in agriculture, communication, education and commerce as evidence of the possibilities that could emerge when young people were encouraged to experiment and create.

Kolade stressed that teaching children to code went beyond producing future programmers, noting that it also developed critical thinking, problem-solving, collaboration and resilience.

He called on governments, businesses, old students’ associations, philanthropists and diaspora communities to support the programme’s expansion by providing computers, internet connectivity, learning facilities, equipment and sustained funding.

Kolade disclosed that 72 teachers from the six South-West states participated in the first cohort of the teacher training programme, with 67 successfully completing it.

He said the programme adopted a train-the-trainer model to enable participating teachers to transfer their knowledge to other educators in their communities, with a target of training 3,000 teachers by the end of the year.

He said the next phase of the initiative would focus on reaching more schools and communities, stressing that access to digital education should not be determined by geographical location or economic background.

The organisers said the programme was designed to equip young people with the skills and confidence to contribute to technological innovation and economic development in Nigeria and across Africa.

In his remarks, the Pro-Chancellor of Emmanuel Alayande University of Education, Professor Ayoade Ogunkunle, called for greater investment in digital education at both primary and secondary school levels.

He said it was instructive and worthy of note that Chief Obafemi Awolowo introduced free education in Western Nigeria and his daughter, Dr Awolowo Dosumu currently leads efforts that promote free digital education in the region.

He added that stakeholders needed to build on the educational legacy of Chief Awolowo and others who had transformed the sector.

Ogunkunle also urged the students to seize the opportunity to advance in their chosen careers.

Speaking in the same vein, Mr Kunle Shodein urged the students to keep abreast of global technological developments.

‘The world is moving on. This initiative shows that the South-West is moving in the right direction,’ he said.