Governor Babajide Sanwo-Olu on Thursday floated an autonomous funding mechanism that will keep all its tertiary institutions including Lagos State University (LASU), Lagos State University of Education (LASUED) and the Lagos State University of Science and Technology (LASUSTECH) on the path of sustainability.
Sanwo-Olu also disclosed plans by the government to set up the Lagos State Tertiary Education Trust Fund aimed at creatively revolutionising the model for the funding of tertiary education in the country.
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The governor made the disclosure when he received members of the Visitation Panel to LASU led by the former Vice-Chancellor of the University of Lagos (UNILAG), Prof. Abdulrahman Bello.
The panel, which was set up in November 2021, turned in 322-page recommendations for the governor’s implementation towards meeting the university’s contemporary needs in academic growth and physical development.
It recommended the consideration of the establishment of a Lagos State Tertiary Education Trust Fund (LASTETFUND) as a specialised funding agent for meeting the infrastructural needs of the institutions without conflict with the other needs of the government.
Commenting on the LASU Visitation Panel, the governor noted that it was set up to birth a new order of growth for the university ranked as the Second Best University in Nigeria by the Times Higher Education (THE) World University Rankings, 2020.
The Chairman of the Visitation Panel, Professor Bello revealed that the panel in the course of its sittings interacted with all stakeholders of the university on the eleven terms of reference given to the panel.
The panel’s findings according to him indicated that LASU has shed the toga of an image of insecurity and confusion, which existed at the time of the 2009 Visitation.
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