As the nation’s premier university, the University of Ibadan begins the official programme to celebrate the 70th anniversary; the management on Saturday said arrangements have been concluded to adopting a culture of two-pronged revenue generation drive.

The management said the strategy was to reduce the institutions dependency on government funding and also achieve prudent management of available resources.

Vice Chancellor of the Institution, Prof Idowu Olayinka made the disclosure while addressing an International Press Conference to herald the activities lined up for the celebration.

The activities which officially begins on October 5th with a lecture would run through to November 17, 2018.

Prof Olayinka who noted that the 70-year-old would need as much as N30billion annually to achieve its goal of attaining world class standard however said, the institution is already restrategising to open up diverse streams of income to complement what it gets from the Federal Government.

He also stated that the institution’s council has approved the conversion of its Post Graduate School to Post Graduate College, saying, “with this development, the college will now be headed by a provost who will be assisted by two deputy provosts and two registrars.”

Olayinka said, “We are exploring ways that UI can make itself less dependent on government funding. We are adopting a two-pronged approach involving a resource mobilization plan and prudent management of the available resources.

•Excerpted from The Nation report