The Executive Secretary of the Tertiary Education Trust Fund (TETFund), Sonny Echono, has commended Obafemi Awolowo University (OAU), Ile-Ife, Osun State, saying the institution has continued to reflect the vision and ideals of its founding fathers through excellence in scholarship and human capacity development.
Echono made the remarks while delivering a lecture to mark the university’s 65th anniversary, according to a paper made available in Osogbo on Friday.
He praised the university’s leadership over the years, including pioneer and successive Vice Chancellors, for sustaining what he described as the enduring legacy of “Great Ife” as a hub for intellectual development and nation-building.
According to him, OAU has remained a breeding ground for distinguished academics, legal practitioners, business leaders, diplomats, technocrats and administrators, many of whom have contributed significantly to national development and earned national honours.
“The Great Ife has continued to stand as a symbol of purposeful leadership and academic excellence. It has remained faithful to the ideals of its founding fathers as a training ground for scholars and professionals who are making meaningful impact in society,” he said.
Echono also emphasised the importance of research and innovation in driving national development, noting that countries that have achieved sustained economic and technological progress did so through consistent investment in knowledge creation and scientific advancement.
He stressed that modern economic growth is no longer dependent on natural resources but on the ability of nations to generate, apply and commercialise knowledge effectively.
He further noted that Nigeria’s developmental challenges, including unemployment, insecurity, poverty, healthcare gaps, industrial underdevelopment and technological dependence, could be addressed through stronger investment in research-driven solutions tailored to local realities.
While commending President Bola Tinubu for prioritising innovation and research, Echono observed that building a knowledge-based economy requires tackling persistent challenges such as inadequate funding, poor infrastructure, weak industry-academia collaboration, limited motivation for researchers, and difficulties in commercialising research outputs.
He also highlighted the role of TETFund in strengthening tertiary institutions through interventions in research funding, capacity development, innovation hubs, entrepreneurship programmes and commercialisation initiatives, aimed at repositioning universities as active drivers of national growth.
Echono added that Nigeria’s long-term development and competitiveness depend largely on how effectively the country harnesses knowledge, innovation and technology to create jobs, expand opportunities, and improve living standards.
Earlier, the Vice Chancellor of OAU, Prof. Simeon Bamire, said the institution had continued to experience steady growth since its establishment over six decades ago, crediting staff and students for sustaining its tradition of excellence.
He also announced plans to commission the N10bn President Bola Ahmed Tinubu Centre of Excellence in Intercultural Dialogue and Youth Empowerment on June 8, as part of activities marking the university’s anniversary.
According to him, the centre will serve as a hub for research, leadership training, innovation, dialogue and youth empowerment.