Is Fundraising Expertise a Disqualification: A New Approach to VC Appointment in Nigerian Universities.

Who are the individuals being entrusted with the leadership and administration of our universities in Nigeria? It is a critical consideration, given the deplorable financial state and accountability deficit of most of our public universities in recent times. Effective leadership in this context requires a combination of business acumen, honesty, and a basic understanding of fundraising and revenue generation. The selection process should be based on merit, rather than familiarity or allegiance to the appointing Governor, Minister, or being a son of the soil.

In Nigeria, it is not uncommon to find a professor with limited financial management knowledge, unable to differentiate between a Balance Sheet and an Income Statement, appointed as the Vice-Chancellor or President of a university. This lack of a basic understanding of financial or management principles can hinder the university's ability to achieve economic stability and sustainability.

In contrast, American universities operate under a distinct leadership structure, comprising a President and a Board of Directors or Governing Council, which functions independently of the university President. Conversely, Nigerian Vice-Chancellors often wield absolute power, operating without checks and balances and lacking accountability.

Furthermore, Nigerian universities frequently fail to capitalise on potential revenue streams, such as conferences and seminars, short-term courses or programs for mid-career and upper-level executives, as well as an expedited transcript issuance process.

For instance, Harvard Law School has what it calls the Program on Negotiation (PON) that organises seminars on Negotiation and Arbitration almost every week, and negotiating and structuring multi-million dollar deals for institutions, governments, and corporate bodies all over the world. I believe UNILAG used to have a Business Consulting outfit that's worth considering as a model for interested universities in Nigeria.

By the way, the cumbersome process of obtaining transcripts can be a significant source of frustration for alumni, signalling alienation. Vice-Chancellors need to recognise the importance of streamlining this process and exploring opportunities for revenue generation and, at the same time, strengthening alumni ties with their alma mater.

Another disturbing case is the practice of admitting students without adequate academic infrastructure in place. This is a recent development. Universities continue to charge students fees, despite being unable to provide them with essential academic resources like lecture halls or teaching staff. The absurdity in this revenue drive mechanism is unimaginable; the approach is not only inefficient but also unfair to students and parents.

There is no doubt, the arbitrary selection process for Vice-Chancellors perpetuates a culture of complacency, hindering improvements in student welfare and creating an unfavourable environment for lecturers and non-academic staff.

To address these challenges, it is essential to prioritise management expertise and a culture of accountability within university administration. Vice-Chancellors must demonstrate a basic understanding of fundraising, entrepreneurship, financial discipline, and prudent management.

With the current administration's efforts to stabilise our academic calendar, our universities now have a unique opportunity to utilise the long summer holidays for innovative programmes that benefit both students and non-students alike.

I recall attending a JME/JAMB preparatory class in the mid-1980s at the Ekehuan campus of the University of Benin, where a renowned professor of Economics from the Ogbowo campus shared his expertise with us for a fee paid directly to the university's account. There are numerous creative ways universities can generate additional revenue without imposing further financial burdens on students and their families. This experience is one of them.

I strongly advocate for a rigorous screening process for VC candidates, involving Auditors and Chartered Accountants firms. While they may not be expected to be experts in accounting and finance, they should possess a fundamental understanding of financial management principles, leadership ethics, and organisational behaviour.