Preamble

The University of Ibadan, like most Government owned Universities in Nigeria, is largely dependent on grants from the Federal Government. Over the years, government funding has been oscillating between 85% and 90% of total annual income. Meanwhile, the needs of the University in the face of global challenges continue to grow in leaps and bounds.

The funding level from government may not improve materially, relative to the needs of the Institution because of the following:

a) Unlike in the early years of the University, there are now 27 Federal Universities the government has to cater for;
b) The needs of the Nation in other economic and socio-economic spheres are also yearning for attention;
c) The economic fortunes of the country are not unlimited.

It is therefore imperative on any Federal Government-owned University to device ways of increasing its internally generated revenue. This is to ensure that the core activities of the Institution and welfare of staff are well taken care of, to guarantee a functional and conducive learning and teaching environment.