A new chapter is unfolding at King’s College Lagos as the King’s College Old Boys’ Association (KCOBA) unveils an ambitious N100 billion transformation fund to overhaul the century-old institution, amid moves by the old boys to take over its management.
This is following a letter to the principal of King’s College Lagos signed by O.F. Olatunji-David, director overseeing the permanent secretary for the minister of education, on September 4, with the title, ‘Concession of King’s College Lagos to King’s College Old Boys Association (KCOBA) sighted by BusinessDay, which reads, ‘I am directed to refer you to the above subject and inform you that following the conclusion of necessary processes up to the signing of Concession Agreement, King’s College Lagos has been concessioned by King’s College Old Boys Association.’
The new development suggests that the Federal Ministry of Education has formally handed over the management of King’s College, Lagos, to the King’s College Old Boys’ Association (KCOBA) with the signing of the concession agreement.
And as part of the transformation plan, KCOBA announced a N100 billion endowment fund to support the school’s long-term development.
The development marks a significant milestone in efforts to reposition the 116-year-old institution and transform it into a world-class centre of academic excellence.
A transition committee has been constituted to oversee a smooth handover process and ensure that academic activities and other operations are not disrupted.
Staff members who wish to retain their federal employment status will be accommodated, with arrangements for their reassignment to be handled by the Federal Civil Service Commission.
The concession is not intended as a privatisation of King’s College but as a public-private partnership aimed at revitalising the historic institution.
The proposed investment is expected to focus on upgrading school infrastructure and classrooms, improving teacher training and welfare, introducing modern digital learning facilities and strengthening scholarship programmes for academically outstanding students from diverse backgrounds.
The initiative is expected to combine the institution’s long-standing heritage with sustained alumni investment to improve its academic standards, infrastructure and overall learning environment.
With KCOBA now assuming management responsibilities, the development is being positioned as a new chapter in the history of King’s College, Lagos, with the ultimate goal of restoring and advancing its reputation as one of Nigeria’s leading secondary schools.
Recall that BusinessDay reported on August 17 that the proposed concession of King’s College, Lagos, to its old boys sparked widespread opposition, with parents and other stakeholders threatening a mass protest over concerns about the plans by the federal government.
The Parent-Teacher Association (PTA) came out strongly against the concession, which was granted to the King’s College Old Boys’ Association (KCOBA), describing it as a move that lacks broad support among those with a direct stake in the 116-year-old institution.
According to Peter Oluwaseye, the PTA chairman, ‘Parents are not in support of the move. Senior civil servants are also saying no to it. The community is also not in support; alumni should not treat the college as personal property since they attended the school just like the current students are doing.’