Institutional Needs

The University must define its needs on both present and futuristic bases. These needs should be related to the strategic goals of the Institution. Generally the needs can be summarized thus:

a) Infrastructural development:
Provision of basic amenities that can enhance academic service delivery and learning environment like uninterrupted electricity supply, regular water supply, safe environment for all, including the physically challenged.

b) Low Overhead Grants
Recurrent needs in both academic and administrative sectors of the University. The amount government gives for overheads is so far from the need of the Institution that it has to be substantially augmented with internally generated fund.

c) Staff and Students Welfare
The community is made up mainly of staff and students. Since Government has insisted that its institutions should not charge for tuition, it behoves the University to explore other avenues of getting funds to address maintenance of halls of residence, provision of clean environment etc.
There is no fixed pay day again, as it used to be in the days gone by. The morale of staff is often affected by inconsistent pay days. Though government sends salary grants late, it is possible for the University to pay from a buffer fund account pending the receipt of subvention. Thus a culture of definitive pay days would have been established and maintained. This, among other things, will improve productivity.

d) Money begets money
The establishment of the University Advancement Centre is primarily to raise funds for the University. However, fundraising involves spending. Government does not give money for raising funds, so the University has to generate what it would spend on fund raising activities.

Need for a shopping list
It is proper that the University has a shopping list of its needs in nature and monetary values. This should reflect almost all the present and future needs of the Institution in a prioritized version. The list should be a reflection of the vision, mission and strategic goals of the University, and must be updated from time to time.

Success Factors
It is possible to achieve a lot in fundraising and attract resources to the University because of many positive factors the University can leverage on. These include:

a) The Name
The name of the University of Ibadan is a local and international brand, advantage of which can be taken for its financial benefits without compromising tradition of excellence and honour. Everyone that matters wants to be identified with the University. People from all walks of life want to be its friends.

b) Quality of Human Resources
The most important determinant of success in any organization is the quality of its human resources. This University prides itself as one with a vast pool of intellectual, experienced, exposed, resourceful and dependable human resources who are locally and internationally acknowledged. Some of them have partaken in the building of institutions and nations. They are relevant to the fund generation efforts.

c) Alumni Strength
The University, as Nigeria’s Premier University, has produced many graduates, at both the undergraduate and postgraduate levels. Most of these men and women now occupy important positions in economies all over the world.

Vehicles for aggressive Fund Generation
The following are the main areas where the University can generate substantial fund:

1) Relationships
The University should start attaching importance to relationship-building, believing that relationships breed benefits. This will be with:

a) Students
Once an individual completes his/her matriculation processes, he should no longer be seen as just a student; he should also be recognised as a future alumnus and eventual benefactor of the University. How much he will be ready to come to the aid of the University in the future will depend on his memory of his days in school.
Students should therefore be well taught and well counselled while we discourage the headmaster-pupil relationship but emphasise a father-child relationship without compromising discipline. The quality of academic and administrative service delivery must be such that the average student does not feel short-changed. From his/her interaction with academic and administrative staff, the student should not feel disparaged.

b) University Staff
There must be a positive relationship between the University and its staff. This underscores the element of staff welfare in the organizational environment. A member of staff who is unjustly denied his legitimate dues may not identify with the University beyond coming to work and getting his pay at the end of each month. However, a staff member who is pleased with the University can connect the Institution to high net-worth people and organizations. He/she will remember the Institution even after leaving service.

Examples of former staff of the University who have breathed back positively on the University include Professor Oyawoye, Dr. Egbogha and Professor Aboaba and many more. Often, a former staff member influences his/her organization to give quality gifts to the University.

Some internal members of this August Council have attracted handsome benefactions to the University while one is making a regular monthly donation from his salary to the University.

c) Outsiders
The way staff members relate to outsiders can affect the prospects of the University in the area of benefactions. In his/her relationship with others, an average staff member must see him/herself as an ambassador of the Institution, consciously giving other parties a positive impression of themselves and, by extension, the University.

A lot can be received from governments and private organizations, with the right relationship.

2. Research Findings
The source of developmental achievements of any nation lies in its research efforts and findings. The University of Ibadan has conducted many beneficial researches whose findings, if commercialised, could bring a lot of returns to the University in form of royalties.
Milo, Bournvita, Ovaltine and their production machines are products of research. From indications, this Institution has numerous research findings on the shelf, begging introduction to the commercial world. Most science–based departments are said to have enough to transform the fortunes of the University, if they are well harnessed.

3. Consultancy Unit
The rich human resources of the University can be used to generate funds through the execution of consultancy assignments. Here, all departments in the Institution can engage in such assignments, opportunities of which come up from time to time in the public and private sectors. From Medicine to Basic Sciences, from the Social Sciences to Engineering, from Education to Agriculture; there is a vast and little-tapped field of consultancy possibilities.

Fund generating activities of the departments in this regard can be organized under the umbrella of a virile Consultancy Unit, which can identify strengths and capabilities, coordinate activities and reward input appropriately.

Among Units that can make reasonable volume of money for the University but which have not been so recognized for their potentials are:

i) Computer Science Department
This is an age of information technology, and the University spends an average of N50m yearly on procurement of computers.
The Department of Computer Science can engage in hardware assemblage and software development, catering for the needs of the University community in the first place and bidding for jobs in this connection outside the University. This could also be a strong platform for training students in technical and entrepreneurial skills.

ii) Teaching and Research Farm
This is an arm of the University that can double as Research and Commercial outfit. A commercial section of the farm should be established to engage in poultry, fishery, piggery, feedmill, meat processing and arable farming. The University can inpact the environment by making milk, fish, fruits, pork eggs and beef available to the public, while making a fortune from the businesses. Those who rent the University facilities make good money from these businesses.

iii) Physical Planning Unit
This is a young Unit whose nature of “business” is marketable in the federal, state and local government areas of the nation.

iv) Agricultural Extension Department
This is a department that can generate funds from work effectively with Ministries of Agriculture at federal and state levels.

v) Faculty of Pharmacy
The Faculty of Pharmacy is in a position to generate high volume of revenue because of its potentials in the area of consultancy and research in drug production, drug evaluation and pharmaceutics administration.

The University, through the Faculty of Pharmacy, can partner with pharmaceutical companies and investors in the area of drug development.

4. Alumni Relations
There is need for strengthening alumni relations. As at today, this is the most feasible, viable and sustainable source of internally generated fund. This University has produced over one hundred and twenty thousand (120,000) graduates. If it is assumed that 80,000 are still living, and only a quarter of these are ready to give just an equivalent of ten dollars (USD10) every month, the takings will be N30m. If this comes in regularly, it will grow to be a big account in the nearest future, if well managed.

5. Business Units
The University can establish business units to cater for some needs of the immediate and outside communities, applying available specialized knowledge and leveraging on the strength of its name.
Areas in mind include bottled portable water, bread and paper recycling plants.

Existing business units, like UI Ventures and the University, should be appraised and necessary steps be taken to ensure profitability. It is only from their profits that the University can expect dividends.

6. Establishment of Microfinance Bank
The volume of financial transactions taking place daily in the University is enormous. Meanwhile a lot of the benefits arising from them in terms of transaction margins go to outsiders. The establishment of Microfinance Bank by the University will avail the Institution incomes on many of these financial transactions.

From available information and the feasibility study carried out in this respect, the growth of the bank will be sure and fast and it may become a major financier of University activities in the foreseeable future.

7. UI Guest House in Abuja
A UI Guest House in Abuja will be a viable venture, as it will generate income and help to reduce cost of accommodating University officials in Abuja.

It will also serve as liaison office, with officers of the guest house can be used to run heralds, deliver mails and attend to issues that do not necessarily warrant an officer going from Ib adan.

8. Review of Fees
It is important to note that student fees have to be reviewed from time to time to reflect cost of maintain students and the economic situation of the country.

Items of fees should be looked at regularly with a view to ascertaining those that have to be reviewed upwards. It is advised that new fees be introduced only into new intakes’ schedule of fees leaving out stale students. This is to forestall crisis.

9. Cost Recovery
The University should maintain cost recovery principle, ensuring that only ventures that will at least payback itself within a reasonable length of time are invested in.

Moreover, there must be ways of recovering the cost of providing services to campus residents and businesses enjoying University electricity, water, security and sanitation services, for which the Institution pays centrally.

8. Aggressive Fundraising
There is need for aggressive fundraising activities. Fundraising activities, though more rewarding in the longer term, is a vehicle most Institutions in the developed world have used successfully. This exercise should involve ALL the members of the Community.