The Basorun of Ibadan, Chief Kola Daisi, has announced the donation of N1bn as his initial subscription to the KolaDaisi University Endowment Fund.
Daisi, made the announcement in his address after his installation as the first chancellor of the university at its maiden convocation held in Ibadan.
He said the university had been growing at a remarkable pace, saying he hoped it would, in no distant future, become like the Harvard and other Ivy League Universities.
Daisi said, “I believe that an educated society is essential to a successful democracy and in this era of technology, it is very certain that, probably, as much as 70 per cent of jobs in our future economy will require university education.
“To commemorate this occasion and especially so as to attain the competitiveness and distinction that I envisage, a special Endowment Fund has been established for the KDU. I hereby wish to subscribe the sum of o1bn as my initial subscription to the university’s Endowment Fund.”
The Vice Chancellor of KDU, Prof. Adeniyi Olatunbosun, said the university produced graduates with First Class out of the 52 graduates.
He urged the fresh graduates to be good ambassadors of the university, saying they had been primed with what they needed to succeed.
The Vice President, Prof.Yemi Osinbajo, who delivered the convocation lecture advised the graduates and other youths to take the advantage available on the Internet to further equip themselves with useful skills.
He urged them to always prepare themselves ahead for opportunities and to imbibe the policy of honesty and self-discipline which he said were critical factors to their success in life and business.
Osinbajo said, “You are graduating at the most advanced moment in human history. The smartphone you have in your hands today has more computing power than in the Apollo Spacecraft that took man to the moon in July of 1969.
“Let me assure you that there is plenty of hope; there are more opportunities available for success now than ever before. There is a whole new world of opportunity especially with the Internet and digital technology.”