AKINWALE ABOLUWADE
The Vice-Chancellor of Precious Cornerstone University (PCU), Ibadan, Prof. Timothy Olubisi Adejumo, has called on the Federal Government to extend the Tertiary Education Trust Fund (TetFund) and Nigerian Education Loan Fund (NELFund) to private universities, emphasizing the potential benefits to Nigeria’s higher education landscape.
Speaking at a press conference on Wednesday to mark the university’s third Convocation and sixth Founder’s Day, Prof. Adejumo highlighted the achievements of PCU’s Class of 2024. The theme of the week-long celebration is “The Legacy Set,” and the VC noted the academic excellence, resilience, and innovative spirit of the graduating class, underscoring their lasting contributions to the university.
In his remarks, Prof. Adejumo also congratulated Nigeria’s new Minister of Education, Dr. Tunji Alausa, on his recent appointment by President Bola Tinubu. He encouraged the Minister to support private universities, saying, “The private universities are helping address the educational needs of students who might otherwise have limited options. They deserve government support just as public institutions do.”
Addressing funding challenges, Prof. Adejumo noted, “Private universities face significant financial constraints. We need government support. We’re taxed as though we are profit-driven, but these funds are essential for our operations and growth.”
Prof. Adejumo revealed that the Committee of Vice-Chancellors of Nigerian Universities is actively pushing for TetFund and Petroleum Technology Development Trust Fund (PTDF) access for private university students. He further emphasized PCU’s affordable tuition structure, explaining that students pay in stages throughout the academic year, making education more financially manageable.
Applauding the new Minister’s decision to reduce age limits for brilliant students, Prof. Adejumo acknowledged the difficulties faced by private universities in funding their operations. “Financing is tough, but we are managing with divine support, and we are hopeful for partnerships with donors.”
He expressed pride in PCU’s mission to nurture skilled and innovative graduates, rather than job-seekers. “We produce original thinkers and job creators, not just graduates. Our top students, like Abraham Akinwole, who achieved a CGPA of 4.98 in Physics with Electronics, are well-prepared for future leadership roles,” he said.
Of the 118 graduates this year, Prof. Adejumo disclosed that 14 achieved First-Class honors, with 65 in Second-Class Upper, 37 in Second-Class Lower, and two in Third Class. He praised them as change-makers prepared to make a positive impact in their fields, equipped not only with academic degrees but also with entrepreneurship certifications.
PCU’s recent accomplishments include full accreditation from the National Universities Commission (NUC) in key disciplines such as Mass Communication, Software Engineering, Cybersecurity, and International Relations. Approval has also been granted for part-time programs across multiple disciplines, and the university has secured accreditation from the Institute of Chartered Accountants of Nigeria, offering exemptions for its accounting graduates in preliminary exams.
The week-long convocation activities include community service, a public lecture by the NDLEA on combating drug abuse, an exhibition, a novelty football match, and a Convocation Lecture on “Faith, Leadership, and Governance: Preparing the Next Generation for Ethical Leadership in Nigeria.” The ceremonies will conclude with a Foundation Day Thanksgiving Service, during which Chancellor Bishop Francis Wale Oke will pray for and anoint the graduates on Sunday, November 10.
Distinguished guests from various sectors, including business, academia, and government, are expected to attend.
In her vote of thanks, the Registrar of the university, Mrs Morenike Afolabi, expressed gratitude, highlighting the university’s dedication to national development by providing quality education to its students. “With these 118 graduates joining the workforce, PCU is contributing to Nigeria’s progress,” she remarked.
