UNICAL Plans To Raise N10bn Endowment Fund

The Vice-Chancellor, University of Calabar, Cross River State, Prof. Zana Akpagu, says the institution will raise N10bn to fund ongoing projects.

Akpagu, who stated this during the university’s 29th convocation ceremony, said finance and funding had become major challenges to effective and functional service delivery.

This came as a former governor of the state, Dr. Donald Duke, who received a doctoral award alongside an ex-presidential adviser, Senator Florence Ita-Giwa, pledged to contribute N50m towards the development of the school.

According to the vice-chancellor, the fund will be in use for new classrooms, offices, hostels, sports facilities, furniture, laboratories, and library resources, among others.

He said, “As is the case with most tertiary institutions, the question of finance and funding continues to pose one of the biggest challenges to effective and functional service delivery. As a result, the university intends to inaugurate N10bn endowment fund to help in funding these projects.”

Akpagu, who said the university honoured Ita-Giwa and Duke  in recognition of their outstanding services to the development of the country, added that 12 persons graduated with first class this year.

Dedicating her award to the people of Bakassi, the former lawmaker said she would not relent in the emancipation of the citizens.

Duke, who said he turned down a similar offer from the university 13 years ago, commended the ivory tower for honouring him.

“I am indeed honoured by this distinction you have bestowed on us. The first time in the history of this institution that two Cross Riverians are receiving doctoral degree awards. I thank the authorities for the recognition.”