OAU Spends N195 Million Monthly on Electricity, Reveals 25-Year Strategic Plan to Become Global Academic Powerhouse

 


Obafemi Awolowo University (OAU) has launched a groundbreaking Strategic Plan for 2025-2050, aiming to transform the institution into a world-class center of academic excellence and research innovation, while simultaneously grappling with substantial electricity costs that drain nearly N195 million from its monthly budget.


The plan was unveiled during a management conference titled 'Envisioning a Great Future: OAU Strategic Plan (2025-2050)', which brought together leading academics, experts, and university stakeholders to chart a bold new path for the institution. "We spend over N195 million monthly on electricity," Prof. Abayomi Daramola, Deputy Vice-Chancellor (Administration), candidly stated, "and we urgently need to invest in alternative energy solutions to mitigate this cost."


Vice-Chancellor Prof. Simeon Adebayo Banire emphasized the plan's inclusive approach, which involved input from all faculties and departments. The strategy focuses on several critical areas, including improving global research output, enhancing societal impact, developing stronger relationships with stakeholders, addressing funding challenges, and resolving manpower shortages.


Emeritus Prof. Peter Okebukola, a former National Universities Commission executive, underscored the importance of turning strategic planning into actual execution. He pointed out significant challenges facing Nigerian universities, including declining global university rankings, lack of Nobel Prize winners, inadequate monitoring frameworks, and limited funding for high-quality research.


The strategic discussions produced several innovative recommendations. These include conducting annual progress reviews of the strategic plan, exploring revenue-generating programs, investing in alternative energy solutions, developing an effective university website, and fostering international partnerships.


Security and financial management emerged as crucial topics during the conference. Experts like Prof. Olukoya Ogen and Dr. Lateef Odekunle stressed the need for advanced campus security technologies, digital transformation of financial systems, diversifying revenue streams, and embracing technological innovations.


Pro-Chancellor Prof. Siyan Oyeweso emphasized that the plan aims to position OAU among global academic leaders. "We want to be in the league of universities with Nobel Prize winners and groundbreaking researchers," he stated


Credit: The Guardian 


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