At the 94th Founders’ Day celebration of Igbobi College in Yaba, Lagos, former Vice-President Professor Yemi Osinbajo delivered a powerful message about the future of education in Nigeria. In remarks that blended personal reflection with strategic insight, he urged schools across the country to build sustainable financial strength that would protect institutions from economic challenges and ensure they continue to serve generations of learners with quality and purpose, as reported by the News Agency of Nigeria.
The annual event, which drew alumni, educators, government representatives and current students, provided more than just a celebration of history. It became a platform for Osinbajo to stress how carefully planned financial backing can transform schools into anchors of excellence and character development. His call came against a backdrop of concern about the state of many Nigerian schools, which he described as underfunded and struggling to fulfil their mandate.
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Revisiting a Legacy and Reimagining the Future at Igbobi College Founders Day
Igbobi College, founded in 1932 by Anglican and Methodist missionaries, has a long tradition of contributing to Nigeria’s intellectual and leadership pool. Yet, Osinbajo noted that tradition alone is not sufficient to guarantee success in the future. Drawing on this legacy, he argued that deliberate and sustainable financial planning is essential if the college and others like it are to maintain high standards and relevance.
Speaking to a packed hall, Osinbajo highlighted the theme of the lecture: “Building Generational Strength for Educational Institutions in Nigeria.” He stressed that schools must create mechanisms beyond typical fee structures to protect their operations from economic shifts and leadership changes. According to him, this is where endowment funds play a crucial role. He explained that endowments are pools of invested funds whose returns can be used to support staff, enhance facilities, offer scholarships and expand academic programming.
Osinbajo cited international examples, pointing to well-established institutions abroad whose endowments have helped them withstand economic downturns while continuing to invest in innovation. These examples, he suggested, offer a model Nigerian schools can adapt to strengthen their own financial foundations.
Education, Discipline and National Progress
The former vice-president also reflected on the deeper purpose of education in shaping individuals and, by extension, society. He shared that the habits formed during school years, such as discipline, time management and respect for others, are often carried forward into adulthood. These observations resonate with wider national conversations about leadership and character formation, particularly as Nigeria seeks to cultivate leaders equipped to confront complex socio-economic challenges.
Osinbajo’s connection to Igbobi College is personal. He attended the institution between 1969 and 1975 and credited its environment with helping shape his principles in public service. His reflections underscored his belief that the values instilled in young people at formative stages have lasting effects on their contributions to society.
N10 Billion Endowment Fund Launched at Igbobi College Founders Day
In response to Osinbajo’s vision for sustainability, the Igbobi College Old Boys’ Association (ICOBA) unveiled a ₦10 billion endowment fund at the event. Chief Yomi Badejo-Okusanya, the 12th President of ICOBA, outlined how the fund will be used to support long-term improvements at the school. Contributions are expected to bolster infrastructure, establish new hostels, upgrade science laboratories, and introduce modern learning technologies.
Professional asset managers have been appointed to oversee the fund with transparency and accountability as core priorities. Badejo-Okusanya emphasised that this initiative is not just about securing money but about preserving the ethos and standards that have defined Igbobi College for nearly a century. He appealed to alumni everywhere to contribute generously to the fund, underscoring that the future of the institution depends on collective commitment.
Representatives of the Lagos State government, including the Commissioner for Basic and Secondary Education, Jamiu Tolani Alli-Balogun, affirmed the state’s support for efforts to strengthen schools through partnerships that extend beyond government funding. Alli-Balogun spoke about the social value of disciplined graduates, linking high-quality education to broader national development goals and cost savings in public services.
Sustaining Quality Through Collective Action
Governor Babajide Sanwo-Olu, who was represented at the occasion, reiterated that sustainability is now the true measure of educational excellence. He highlighted that excellence cannot rest solely on goodwill or nostalgic pride in historical achievements. Instead, it must be underpinned by measurable impact, strategic foresight and financial resilience.
The Founders’ Day celebration also featured traditional elements such as a Holy Communion service, acknowledging the spiritual and historical roots of the college. Alumni from across Nigeria and the diaspora reunited with old friends and teachers, reflecting on shared memories while looking ahead to future possibilities.
Osinbajo concluded his speech with a reminder that investing in education is, fundamentally, an investment in the nation’s future. He challenged stakeholders across sectors to think long term and to embrace models that offer stability and growth potential, rather than relying solely on short-term funding or periodic government allocations.
As Igbobi College approaches its centenary, the launch of the endowment fund symbolises a turning point. It represents a shift from reactive measures to proactive plans that aim to preserve the legacy of one of Nigeria’s oldest educational institutions, while inspiring other schools to adopt similar models of financial resilience.
Osinbajo’s message, delivered with the weight of experience and personal conviction, resonates with a broader call in Nigerian society for sustained investment in education as a foundation for long-term national growth. His remarks and the actions that followed offer a blueprint that, if replicated, could help transform the landscape of educational funding across the country.
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