My successor will not face same financial challenges – LASU VC

The Vice Chancellor, Lagos State University, LASU,  Prof. Olanrewaju Fagbohun, SAN, has vowed to leave the university better than he met it four years ago.

Fagbohun is the eighth substantive VC of the university,  and his five-year tenure will lapse in January, 2021.
He gave the assurance on Tuesday when the LASU Financial Sustainability Committee submitted its report to him at the Vice Chancellor ‘s Conference Room, Senate Building, Main Campus, Ojo.
Fagbohun, while commending the committee, under the Chairmanship of Professor of Physical Planning, Prof. Ayo Omotayo, said the university management’s resolve to ensure that the university remains financially sustainable in the face of the Covid-19 pandemic informed the creation of the Committee.
“It was Covid-19 that informed the formation of this Committee. When you look at the roadmap of our administration, we have five imperatives to build peace, entrench academic excellence, ensure financial stability of the university, consolidate on the gains of previous administrations and be a veritable partner to the government. For us, we have achieved almost all of these imperatives and we were already cruising home.
“However, one of the biggest challenges that we have had to face is being financially sustainable in the face of lean resources. To achieve this, we continued to engage the state government to increase our subventions enough to take care of salaries with the assurance that we would build our internally-generated revenue to drive development within the university.
“It was at the time that our request finally received the governor’s attention that Covid-19 happened, forcing the government to divert priority to other pressing areas."
Prof. Fagbohun further assured that with the work of the Committee, the university is on its way to becoming financially sustainable, in spite the Covid-19 pandemic and the resultant dip in the university’s resources.

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