By Emmanuel Edukugho

Four hundred and ninety five students received scholarships under the UNILAG Endowment Scholarships Scheme for the 2008/2009 session in a ceremony last Friday at the multipurpose hall of the institution. It was the fourth edition of the University of Lagos Endowment Scholarship Awards/Partners Forum, believed to be the first of its kind in Nigeria.

Professor Adetokunbo Babatunde Sofoluwe, Vice Chancellor

The project was initiated in 2006 by the former Pro-Chancellor and Chairman of Council, Chief Afe Babalola.

The Vice Chancellor, Professor Adetokunbo Babatunde Sofoluwe, explained in his address at the event that the Annual Scholarship Awards is aimed at promoting academic excellence in the university by financially supporting the students. There were five categories of awards as follows:

*Academically Brilliant (Scholars) CGPA 4.50 and above.

*Students with Outstanding Leadership Qualities – CGPA 3.00 and above.

*Physically Challenged Students – CGPA 1.50 and above.

*Outstanding Sportsman and Women – CGPA.150 and above.

*Indigent Students – CGPA 1.00 and above.

He said as is the practice all over the world, endowment funds are meant to exist in perpetuity. Consequently, the university has properly invested the funds in various instruments which have yielded appreciable interest, part of which is being used to fund the endowment scholarship scheme so as to ensure that the scheme is sustained.

“The University of Lagos is recognised as a worthy citadel of learning because of its excellent performance in various disciplines.

Our programmes have consistently received international recognition as evidenced by her working partnerships with prominent universities abroad.”

Sofoluwe commended the endowment partners who, in many ways had contributed to the endowment fund.

“Today, you are a living witness to the fact that your contributions have had tremendous impact on the life of the university. Our students are benefiting immensely through your support and would forever remain grateful to you.”

Deacon (Dr.) Gamaliel Onosode, Pro-Chancellor and Chairman of Council, told the gathering that the whole purpose of the ceremony for awardees is to “ensure we sent a massage to the entire country that we are preparing men for this nation.” According to him, “we want to ensure that these awards are not just to fulfill all righteousness, although late (in arrears), want it done in orderly fashion to show our inner mind to take on responsibility here, not when we’ve left.”

Affirming that UNILAG is student-friendly, he noted that leadership potentials for which students got scholarships, we intend to think of those who occupy high office like VC, deputy VC, register, and principal officers. “But every single one of us has leadership potential.”

Onosode urged UNILAG and others “to work together to make Nigeria what it ought to be in our life time,” adding, “we stand at the verge of another election, and so we comport ourselves and God will see us as part of the solution to our problem.”

In a brief chat with Vanguard after the ceremony, he said the scholarships are open to all students of the university and have become extra incentive for them to work hard.

Mrs. I.A. Salaam, Director, Office of Advancement, reiterated that the funding of the Endowment Scholarship is derived from the interests generated through investment of the endowment fund.

This is a pool of all cash donations received from alumni, friends, parents, students, contractors, staff and other benefactors. Our investigation showed that 179 companies, oil firms, banks, institutions, prominent, wealthy people are the endowment partners.