Private varsities’ future bright, says Okonjo-Iweala

 

Coordinating Minister for the economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala

Minister of Finance, Ngozi Okonjo-Iweala, has said that with the high demand for university education in Nigeria, the future of private tertiary institutions in the country is bright.

She added that Nigeria was on the path of addressing the problems in its education with the injection of N220bn annually to infrastructural development in the universities.

She spoke at an event in Oduduwa University, Ipetu Modu, Osun State, where the minister and Governor of Central Bank of Nigeria, Lamido Sanusi, were respectively conferred with honourary doctorate degree of science in accountancy and economics on Saturday.

Okonjo-Iweala expressed optimism in prompt physical infrastructural development of the country’s universities, revealing also the Federal Government plan to support privately-owned tertiary institutions in the country.

She said, “The increasing demand in tertiary education suggests that there is great protection for private investment in tertiary education in Nigeria to thrive.

“As we continue to invest in critical infrastructure and provide practical-oriented curriculum, we will arrive at what graduates in this country need to survive.

“Our tertiary education system is facing enormous challenges, which this country must urgently address. The Federal Government is deeply committed to the provision of good education by tackling the problems of tertiary education and has set aside additional N220bn annually to be able to address infrastructural problems in our tertiary institutions.

“We know that we will need to do more as the years go by but the political will to perfect the business of tertiary education in this country is present in the administration of President Goodluck Jonathan.”

The minister said that the Federal Government  acknowledged the place of quality education in the nation’s development but stressed that the desired excellence could only be achieved with the genuine partnership with the private sector.

“Quality education will have positive impact on our economy, therefore, both public and private sectors will need to work together to reach our desired goal,” she said.

Sanusi expressed optimism that partnership of private and public sector would develop the nation’s economy to the desired capacity.

“Nigeria has a long way to go but the government will like to assure the nation that with the support of the private sector, the country has a great future,” he said.