The suspended Academic Staff Union of Universities ( ASUU ) strike in the last several months, has again brought to the fore the need to examine the financing strategies for our public universities.
The role of Education is so crucial to all development, that neglecting it, is out of the question.The first problem for our federal Government is the assumption that the government must be dominant in every aspect of providing Education, from appointing Vice Chancellors, to naming Governing Boards. State Governments are also in the same place now. This approach of treating universities as parastatals of Governments, contribute to the inefficiencies in the running of our universities.
The current logjam where ASUU and the FGN has succeeded in grounding Public universities, can never produce a winner. The damage that has been done to date, will never be remedied for several years to come. Government melding, in University Administration and bitting more than it can chew, is one thing, ASUU too, has become the other side of the problem. ASUU has emerged as not knowing what they want. They may be winning the short-term battles now, they will surely lose the war.
All large Unions, generate more check-offs as dues, and become powerful enough to significantly disrupt activities, and get everyone to listen. There is also a price to pay, in loss of goodwill and sympathy for their cause. The Fund can raise Bonds, like a municipality, and because of the recurring monthly receipts from the Federation Account, it makes it possible to structure Bonds, to meet its obligations, and can repay, from the FGN inflows and the returns on their investments.