UNILAG establishes efficiency unit
Miji Blessing, Abiola Ogunleye, Philip Blessing
University of Lagos has established an efficiency unit as part of the Vice Chancellor’s effort to generate revenue to fund the university’s activities.
“The unit is largely to ensure that for every money that will be spent for a purpose, the cost is realistic. That is an aspect of internal control mechanism,” Mr. Lekan Lawal, the bursar of the university explained.
|Mr. Lekan Lawal, Bursar of UNILAG|
He added that the unit is not under the Bursary Department, but it reports to the Office of the Vice Chancellor directly. He mentioned that the efficiency unit has an oversight over every department in the school.
“The Bursary Department has its own reviewing mechanisms and the efficiency unit is tasked with cost curtailment,” The bursar said.
The efficiency unit is one of the measures the university has put in place to generate funds internally. The money generated will support the core activities of teaching and learning.
Mr. Lekan revealed that the university is exploring other methods of generating funds. One of such is the establishment of the university’s Micro Finance Bank. The bursar revealed that the micro finance bank is for the community’s use and he urged students to patronize the bank.
The University of Lagos Business School is also an avenue that the university is exploring for fund generation. He stated that the school is set to attract high calibre students who wish to run the programme in an “accommodating and friendly environment. Certainly, they will have to pay a premium for that service.”
Mr. Lekan also mentioned that research grants could serve as a source of fund to support the university’s activities. He stated that the university has put efforts in building her image to attract research grants and invite collaboration from people outside the shores of the country.
The bursar added that activities like these would not only convert to more money, but would improve the visibility of the university. According to him, UniRank’s list of universities has placed UNILAG as the 1st in Nigeria and the 8th in Africa in its 2020 list.
“Globally, we are within the 800 and 1000 bracket. That is not is a small feat. We can only continue to go higher and higher,” he noted.