The Vice Chancellor, University of Ilorin, Wahab Olasupo Egbewole, a senior advocate of Nigeria (SAN) and professor of International Law, has said that improving Internally Generated Revenue (IGR) is a priority of his administration, promising to support and reinvigorate all the revenue-generating units.
Egbewole, who is also the Chairman of the Investment Committee of the institution, stated this when he led members of the committee on a two-day campus-wide tour of investment facilities owned by the University.
He charged revenue-generating arms of the institution to think outside the box, saying the institution need to increase its revenue base.
According to him, the University has spent so much on the revenue-generating units but the return on investment (ROI) has not been encouraging.
Read also: Five ways Nigeria can boost revenue without hurting investors
The Vice Chancellor admonished the heads of the various facilities to come up with creative ways to expand their revenue, adding that those facilities would also benefit as they expand their financial base.
He asked the revenue-generating units to bring up proposals that would aid what they are doing and find a way to improve on their revenue intakes.
The VC frowned at the nose-diving state of revenue, pointing out that the centres are positioned to serve the state and the nation.
He maintained that the University has no reason not to succeed, even as he suggested that such arms of the University should be insulated from strike actions.
The revenue-generating facilities visited included the Unilorin Microfinance Bank, the GNS, the Central Research Lab, the Optometry Centre, the Ilorin Business School, the Zoological Garden, Unilorin Petrol Station, Unilorin Water Enterprises and the Unilorin GgMax Farm among others.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
