The Vice-Chancellor, Obafemi Awolowo University, Ile-Ife, Prof. Bamitale Omole, has said the university is making appropriate use of Tertiary Education Trust Fund and World Bank grant made available to the institution.
Omole spoke on Thursday in Ile-Ife during the 40th convocation ceremony of the university, where 9,094 degrees, 3,374 postgraduate degrees, diploma, masters and doctorate degrees were conferred on deserving students.
During the ceremony,127 students graduated with First Class honours; 2,360 with second class upper division; 4,256, second class lower division; 1,232, third class; 123 pass degree and 996 unclassified.
Among the achievements highlighted by the VC were sustained peace on the campus through consolidated efforts, trainings, academic excellence and restructuring.
He said, "I promised that with sustained peace and harmony on campus and appropriate release of funds from Tertiary Education Trust Fund for special intervention projects, all the then ongoing projects would be completed and new ones which would promote vigorous research, effective teaching and academic excellence would be initiated.
"During the year under consideration, I am happy to report that university did not relent in its efforts to pursue with vigour the completion, development and rehabilitation of physical structures through 2013 and 2014 appropriations, TETFUND, donations and internally generated resources.
"Although the level of capital funding remains an inhibiting factor, the funds allocated were judiciously expended by adopting due process mechanism in all spheres of operations and this can be attested to by the various project monitoring teams from the NUC, TETFUND and other agencies."
Omole explained that the university was embarking on the development of a 200 hectares of land with the grant given to it by the World Bank.
He said, "During the period under review the university won an $8milion World Bank grant for the establishment of an African Centre of Excellence with specific focus on the Knowledge Park. The grant which would signal a new development paradigm will venture into harnessing science, engineering, technology, innovation and indeed the entire body of knowledge to investigate and sustain industrial development as a gateway for African prosperity.
"I appeal to industrialists, entrepreneurs and business men and women to partner with the Park with view to exploring and exploiting it's immense potentials and make it the hub of the nation's technological development."
Omole also commended the role of the university's alumni association in the provision of financial support.
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