3 He noted that YABATECH is a premier high Institution in Nigeria, which has served the nation for 75 years, adding, ‘the alumni of the College has contributed immensely to the development of the nation in all field of endeavour’.
4 “We desire to continue to be a major pilliar in this journey, it is expected that having existed for so long, the facilities would have decayed and infrastructures inadequate for the good of students and staff.
5 “Therefore, it is conceived out of our desire to address the challenges of infrastructural deficit, obsolete and non functional equipments confronting the college.
6 “The unveiling of the logo is the first stage launch of the N50 billion endowment fund which will be utilised to support students, department, research and other Programmes for generation to come,” he added.
7 The YABATECH Rector declared that it is no longer a secrete that the government can no longer fund Education, hence the need to rise and rescue the college from collapse.
8 Omokungbe added that It was necessary for the Institution to continue to fulfill the mandate of it’s founding father of the premier higher Institution and to maintain the standard it’s known for.
9 Speaking, Mr Tayo Afolabi, Director, SIFAX Group, and special guest of honour who was represented by Mr Bode Ojeniyi, Group Executive Director described the unveiling of the logo as invitation to treat to the bigger thing that is to come.
10 Commended YABATECH family for the initiative, decision and process to set up the Endowment Fund, the SIFAX Director pledged it’s support to the contribute it’s quota to achieve the administration’s target.
11 “Anything coming into the country, for this project, we will clear it for you, support contractors while the work is going on as regards this project.
12 “Have gone through proposals utilisation of what the endowment fund intend to achieve, I said to myself that this will lead to a total transformation of a 75-years old Institution.
13 “The Nigeria of today is a Nigeria of ‘Self Fund’, you generate power, water and you generate funds to ensure that you continue to exist and survive as an Institution,” he added.
14 According to him they say charity begins at home, the alumni of YABATECH are captains of industries today, and they need to take the first step as far as this endowment fund is concerned.
15 The News Agency of Nigeria reports that SIFAX Group partners of YABATECH N50 billion Endowment Fund Logo is a transportation company that specialists in logistics, freight forwarding, cargo consolidation and hire service.
16 Speaking, Mr Uduak-Iyang Udom, Deputy Rector Admin of YABATECH said that the step was to do something significant to improve the legacy of Education in the College through the N50 billion Endowment Fund.
17 Udom, who doubled Chairman, College Endowment Fund Committee said lunch planned to come in form of cash donation, legacy Lunch would cover provision of more classrooms, lecture halls, workshops.
18 He mentioned laboratories, books and scholarships as inclusive as a measure to take more youths out if street and channel their time to education, thereby making the College product globally competitive.