The Executive Secretary of the Tertiary Education Trust Fund (TETFund), Sonny Echono, has described Obafemi Awolowo University as an institution that has remained true to the vision of its founding fathers by producing distinguished professionals and leaders across various sectors.
Echono stated this while delivering a lecture as part of activities marking the university’s 65th anniversary in Ile-Ife, Osun State.
He paid tribute to the institution’s pioneer and successive vice-chancellors for preserving the ideals upon which the university was founded, noting that the institution has maintained its reputation as a centre of academic excellence and leadership development.
“The Great Ife has remained a symbol of commitment and purposeful leadership. The university has lived up to the ideals of its founding fathers as a breeding ground for distinguished scholars, legal luminaries, successful entrepreneurs, diplomats, technocrats and administrators who continue to contribute meaningfully to national development,” he said.
Speaking on the theme of research and innovation, Echono stressed that sustainable national development depends largely on deliberate investment in knowledge creation, scientific inquiry and innovation.
According to him, countries that have achieved lasting economic growth and technological advancement have done so by prioritising research and innovation, rather than relying solely on natural resources.
He argued that Nigeria’s numerous developmental challenges, including unemployment, insecurity, food insecurity, healthcare limitations, industrial underdevelopment and technological dependence, can be addressed through research-driven solutions tailored to local realities.
“Research and innovation remain key drivers of national development. In today’s global economy, development depends on the capacity to create, apply and commercialise knowledge. Nigeria’s challenges also present opportunities for innovation-driven transformation,” he said.
The TETFund boss commended President Bola Ahmed Tinubu for promoting research and innovation initiatives aimed at addressing the country’s unique challenges.
However, he noted that building a knowledge-based and innovation-driven economy requires sustained efforts to overcome funding constraints, inadequate infrastructure, weak academia-industry partnerships, limited motivation for researchers and challenges associated with commercialising research outputs.
Echono highlighted TETFund’s strategic role in strengthening Nigeria’s research ecosystem through interventions in research funding, academic staff development, innovation hubs, entrepreneurship programmes and commercialisation initiatives.
He maintained that leveraging knowledge, technology and innovation is critical to expanding economic opportunities, creating jobs, developing new products and services, and improving the welfare of Nigerians.
Earlier, the Vice-Chancellor of Obafemi Awolowo University, Simeon Bamire, said the institution had recorded steady growth since its establishment 65 years ago.
He commended members of staff and students for their commitment to sustaining the culture of excellence for which the university is renowned.
Bamire also announced plans to unveil the N10 billion President Bola Ahmed Tinubu Centre of Excellence in Intercultural Dialogue and Youth Empowerment on June 8 as part of activities commemorating the university’s 65th anniversary.
According to him, the centre will serve as a platform for research, leadership development, innovation, intercultural dialogue and youth empowerment.
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