The Chancellor of Lagos State University, Olufolarin Olukayode Ogunsanwo, has pledged to transform the institution’s finances by attracting private investors and reducing reliance on government subventions.
Epe Insights reports that the Alara made this commitment during a high-level visit by the university’s Governing Council to his palace in Ilara-Epe, where he outlined plans for a self-sustaining financial model driven by private-sector partnerships.
Oba Ogunsanwo said his tenure would focus on building a new revenue structure beyond state funding. He stressed that depending solely on government support is no longer sustainable in a modern economy.
The monarch, a former Executive Chairman of the Lagos State Internal Revenue Service, noted that his experience in tax administration and public finance positions him to unlock untapped opportunities for the university.
He revealed plans to establish an endowment fund to support research and critical infrastructure. He also proposed enabling departments to offer consultancy services and innovative solutions to industries within and outside Lagos.
Oba Ogunsanwo assured stakeholders that LASU would become a business-friendly institution capable of attracting major local and international investments. He promised strict accountability, transparency, and timely delivery of projects.
Beyond finance, the Chancellor emphasised producing industry-ready graduates. He pledged to introduce structured internship and mentorship programmes linking final-year students with leading firms.
Alara said his vision is to make LASU graduates the top choice for multinational corporations. He added that bridging the gap between classroom learning and workplace demands would enhance employability and boost the university’s global ranking.
