Endowments are particularly powerful because they deliver a dependable and perpetual source of funding for the institution. It provides a consistent and permanent funding source supporting students, departments, research and programmes for future generations.
Yaba College of Technology Endowment Fund operates under the aegis of the Yaba College of Technology Endowment Foundation. The Board of Trustees of the Foundation has the mandate to administer the Endowment Fund in perpetuity and ensure a judicious utilization for the benefit of the College and the donors. By your investment and donation into the Endowment Fund Project, the Foundation and the Board of Trustees hope to create a rewarding partnership between donors and the College.
In the words of Antoine Desaint-Exupery “Our task as Board of Trustees is not to foresee the future, but to enable it”. Thank you and welcome to Yaba College of Technology Endowment Foundation.
The endowment Fund Project has the capacity to contribute to the high quality of education, research and general infrastructural development of the College.
HISTORY
Victor Hugo (1887) “Nothing is stronger than an idea whose time has come”
The idea of Endowment Fund to better the lot of Yaba College of Technology came up in 2018 when the Management under the leadership of Engr. Obafemi Omokungbe (FNSE) assumed office. With the approval of the Governing Council, instituting an Endowment Fund for the College became a reality with the assurance that the proceeds from the fund will resolve the issue of infrastructural deficit and other development concern for present and the future.
The dream that started in 2018 became a reality on the 15th September, 2022 when the Endowment Fund was launched at Eko Hotels and Suites under the Chairmanship of Chief Olusegun Obasanjo GCFR, the former President of the Federal Republic of Nigeria.
WHY THE ENDOWMENT?
Inadequate Funding
“The depressed quality of Education in Nigeria has been explained in part by the inadequate funding of educational system” – Prof. Peter Okebukola.
The above statement by Prof. Okebukola represent the raison d’etre for the Endowment Fund. Governments, both Federal and States can no longer singlehandedly fund education. The Tetfund with its laudable interventions cannot fill the wide gap between the needs of tertiary institutions and available resources. Yaba College of Technology because of its age had to grapple with myriad of obvious and peculiar challenges ranging from;
- Old and obsolete equipment for teaching and research
- Very old buildings
- Space constraint
- Increase in student population
Development of Yabatech Epe Campus
The College is an attempt to solve the problem of space on the Yaba campus acquired forty-five (45) acre of land at Odoragunshin in Epe through the assistance and support of late Sir Michael Otedola. The development of Epe campus is ongoing and presently housed the School of Technical Education, Department of Agricultural Technology, Leisure and Tourism, agric and Bio-Environmental Engineering and Marine Engineering.
WHAT CAN BE ENDOWED
In addition to financial donation, the endowment may include but not limited to the following;
- Legacy projects that would be named after the donor (if they so desire)
- Funding of research
- Scholarship and study fellowship (for staff and student)
- Endowment of Academic chair
- Donation of Teaching Aid
- Donation of Laboratory and Workshop Equipment
- Donation of Books and Journals
- Refurbishment of Classrooms, Workshops and Laboratories