President Bola Tinubu on Monday said his administration has salvaged Nigeria from imminent bankruptcy.
Tinubu, who is the Visitor to the University of Ibadan made this known while speaking at the 76th Foundation Day Anniversary held at the International Conference Centre of the institution in Ibadan.
Represented by the Minister of State for Education, Dr. Suwaiba Ahmad, President Tinubu stressed that his administration inherited an economy that was struggling to stay afloat across all sectors but had managed to salvage the country from imminent bankruptcy.
“This administration inherited an economy that was struggling to stay afloat across all sectors. We have however managed to salvage the country from imminent bankruptcy,” he said.
He added that, “Since inception in 2023, this administration has been fashioning out ways of injecting funds into the education sector.”
The President pointed out that, “Tertiary institutions have remained the largest beneficiaries of allocations to the education sector, through increased funding of the Tertiary Education Trust Funds (TETFUND), and Nigerian Education Loan Fund (NELFUND).
“NELFUND is a student loan scheme designed for eligible students across tertiary institutions to access interest-free loans. This initiative is to facilitate financial access to higher education and empower Nigerian students to pursue their academic aspirations. We are not there yet, but please note that this development is not a destination but a journey.”
Vice Chancellor, University of Ibadan, Prof Kayode Adebowale in his address called President Tinubu “for special priority attention to be given to the University of Ibadan in the form of dedicated reconstruction and rehabilitation funds, as well as, an increased allocation spread over time.”
The university conferred honorary awards to former Registrar of the institution, Mrs. Mojisola Ladipo; Prof. Olufemi Bamiro (Emeritus UI VC); Alhaji Mohammad Indimi; and Mr. Victor Etuokwu of Access Bank LLC as well as awarded PhD degrees to three Doctors of Medicine, and 546 Doctors of Philosophy.