TheCable

Prince Nwakanma, a professor of finance at the University of Port Harcourt (UNIPORT), has called on the federal government to treat universities as assets for development.

NAN reports that Nwakanma, who lectures at the department of finance and banking, addressed the crises facing Nigeria’s federal universities during a valedictory lecture at the institution’s auditorium on Thursday.

His speech was themed: “Crises in Nigeria’s federal universities: Is cash the culprit?”

Nwakanma said that education should be seen as a wealth creation system, which eliminates poverty and instability in an economy if fully funded and equipped.

He said many elites in Nigeria still perceive university degrees as “meal tickets and status symbols”.

“If graduates of the universities were made to imbibe the virtues of self-education as a critical component of university education, that could save the prevailing crises in federal universities,” the professor said.

“Education should be seen as a wealth-creating process, whereby the more people are equipped to create wealth, the more the available resources will be expanded.

“Also, funding of education will be easier, the economy will be good for everyone, poverty will be reduced and everyone will have a share in prosperity.”

Nigeria’s public universities have seen repeated disruptions over the years, with striking lecturers protesting multiple grievances including funding deficits, poor conditions of service, and infrastructural decay.

Academic staff in public universities embarked on their 16th strike in 23 years in 2022. The strike lasted for eight months.

Nwakanma recommended that government should consult with the Academic Staff Union of Universities (ASUU) and other stakeholders to develop policies that could ensure long-term industrial harmony and the smooth functioning of federal universities.