Alumni of Loyola College, Ibadan, have initiated a ₦750 million endowment fund to ensure the long-term sustainability of the institution. This move, spearheaded by the Loyola College Old Boys Association (LOCOBA), aims to address pressing infrastructure and capacity development challenges facing the college. The fund will support infrastructure renewal, human capital development, and sustainable institutional funding, preserving the school's tradition of academic excellence and leadership development.
The endowment fund is designed to be a long-term institutional support vehicle, differing from traditional intervention-based fundraising efforts. A portion of the funds will be allocated to priority projects, while another portion will be professionally managed to generate recurring income for maintenance and future needs. This strategic approach will enable the college to tackle critical challenges and ensure its continued growth.
Priority areas for funding include the renovation and equipping of science laboratories, rehabilitation of critical infrastructure, teacher development programmes, student leadership initiatives, sports development, and projects focused on improving educational outcomes. These areas were identified as crucial for enhancing the overall learning experience and preparing students for future challenges.
Fundraising efforts are already underway, with several alumni committing early support as anchor donors. The LOCOBA President, Mr. Gbenga Biobaku, emphasized the importance of this initiative, stating that Loyola College has played a significant role in shaping generations of leaders and professionals. The endowment fund will create a permanent foundation for the college to continue delivering educational excellence.
The fund will operate under a defined governance framework, ensuring professional fund management, periodic reporting, independent audits, and strict separation between endowment assets and the association's operational finances. This framework will guarantee transparency and accountability in the management of the endowment fund.
The fundraising campaign aims to raise ₦750 million through contributions from alumni across graduating sets, as well as individuals, organisations, and partners interested in education and youth development. Loyola College, Ibadan, has a rich history, having been founded in 1954 and produced generations of graduates who have gone on to distinguished careers in various fields.
Alumni, friends of the college, and other interested stakeholders are encouraged to contact the LOCOBA for additional information on the Endowment Fund, including contribution modalities and participation details. Further information can be obtained from the Treasurer of LOCOBA, Mr. Oluwole Ekemode, on 0803 370 6075.
Key points
- The Loyola College Alumni Association has launched a ₦750 million endowment fund to secure the school's future.
- The fund will prioritize infrastructure renewal, human capital development, and sustainable institutional funding.
- The endowment fund will operate under a defined governance framework, ensuring transparency and accountability.
