Babalakin said in the next five years, at least, one Nigerian university must be in the top 100.
The lawyer spoke at the University of Ilorin where he chaired the third annual Registry Lecture Series, titled:Babalakin, who is also the Chairman of the Federal Government Renegotiation Committee with unions in Nigerian universities, said his committee realised that for Nigeria to position itself as a leading nation, it must improve its educational system.He said: “We have discovered that one of the challenges of the educational system in Nigeria is funding.
“From my experience with various universities, all UNILORIN has today is government allocation to pay salaries; some insignificant figure for recurrent and capital expenditure – definitely less than N1 billion annually – and Tertiary Education Trust Fund , which cannot afford to give the university N1 billion yearly.
Explaining that various arguments have been put forward on where the difference should come from, the legal practitioner said: “A school of thought is that the money must come from government. Why not, if government can afford it? But if government cannot afford it, where will it come from? Our position, as negotiators for the government, is that somebody must pay – either government or someone else – but we are not willing to delay the revitalisation of Nigerian universities.
“We are not willing to be Number 800 in the world. In the next five years, one Nigerian university must be in the top 100; it will be a celebration, if there are many more. Our employers will decide where the money is going to come from, but this is the volume of money required to revitalise universities.”