He identified student accommodation as an immediate opportunity, suggesting that a real estate investment trust or concession arrangement could help the university generate revenue from housing facilities
By Moses Okorie
The Securities and Exchange Commission (SEC) has urged Nigerian universities to reduce dependence on government allocations and explore capital market investments to finance infrastructure and sustainable development.
The Director-General of SEC, Dr Emomotimi Agama, made the call on Friday while delivering a lecture at the University of Ibadan Alumni Association Annual Public Service Lecture in Ibadan.
The lecture was themed, “First and Best But Whose Capital Built It? Rethinking How Nigeria Funds Its Own Future”.
Agama recalled that the University of Ibadan was established in 1948 following the donation of 2,500 acres of land by Ibadan chiefs and residents on a 999-year lease.
He observed that despite the institution’s contributions to national development, it had never approached the capital market to raise long-term funds through bonds, investment funds or listed investment vehicles.
According to him, continued reliance on government funding is unsustainable amid Nigeria’s fiscal challenges.
He said the university had about 41,700 students, while its halls of residence could accommodate fewer than 10,000, leaving thousands to seek accommodation off-campus.
Agama noted that Nigeria had substantial investment resources, citing pension assets of N31.48 trillion as of July 2026 and Nigerian Exchange market capitalisation of N215.09 trillion.
He proposed five financing options, including endowment funds, bonds and sukuk, real estate investment trusts, university innovation funds and diaspora investment instruments.
He identified student accommodation as an immediate opportunity, suggesting that a real estate investment trust or concession arrangement could help the university generate revenue from housing facilities.
Agama also encouraged the institution to commercialise research through equity investments in companies emerging from its laboratories and attract diaspora funds into productive investments.
He, however, stressed that accessing capital markets required transparency, audited financial statements, credit ratings, reliable revenue streams and professional fund management.
The SEC chief urged alumni to move beyond donations that are quickly spent and support investments capable of generating sustainable returns.
Earlier, the Acting President of the association, Prof. Terrumun Gajir, said Nigeria needed to mobilise pension funds, household savings and private capital to promote economic growth, infrastructure development and job creation.
The Chairman of the occasion, Bayo Oyero, also called for an independent university endowment fund that could invest in properties and other assets to generate income.
Oyero urged the university to extend financial investment education to young Nigerians, encouraging them to begin planning for their future through investments in shares and stocks.