Great Ife (OAU) Reaching for Loftier Heights of Excellence – Part 2
Posted by: Omotaylor on September 10, 2008 Under: Africa, Discussion Lounge, Event, Literature, Nigeria, Science
ON THE 5TH INTERNATIONAL WORLDWIDE REUNION AND 5-YEAR $100 MILLION ENDOWMENT FUND.
Day 3 (Alumni General Meeting – cont’d): Wole Olaoye on Role of Alumni in University Development:
The Midmorning Session was opened by Mr. Wole Olaoye, President, Nigerian Chapter, Great Ife Alumni Association, who gave a simple but very thought provoking call, when he spoke on the Role of Alumni in University Development. Calling out to all Alumni members worldwide, Mr. Olaoye stated that our commitment to OAU should be lifelong. Our Heritage is Great Ife. Our involvement with Great Ife should not be fundraising alone but we should all serve as goodwill ambassadors of OAU. We must all as members of the same family, become bridges through which OAU could win more friends. He reminded us that it is pertinent that we help in giving the present generation something to be grateful for in the future. He ended by quoting Professor David Lodge a graduate and Honorary Fellow of University College London and Emeritus Professor of English Literature at the University of Birmingham who once said that “Universities are the cathedral of the modern age…”. This is indeed a direct call from the Alumni president in our actualisation of this laudable project of achieving $100million Endowment Fund.
Dr Olajide Awosedo on Real Estate Business in Nigeria:
To round off the mid morning session, Dr Olajide Awosedo, President/CEO of Grant Properties, who also is an Alumnus; gave a presentation on Real Estate Business in Nigeria. Calling on all Nigerians in the Diaspora to look back home, he encouraged them to invest in the worthwhile Real Estate Business in Nigeria.
Debo Sodipo on World University Ranking and Endowments:
To round up the Alumni General Meeting, Mr. Debo Sodipo, member of the SFBA Alumni Strategic Planning Committee, gave during the afternoon session, an excellent two pronged talk on “The World University Ranking and Endowments – A Historical Perspective” and “Strategic Plans Towards a Top 200 World University Ranking”. Above are the inner essence of the 2008 Great Ife Reunion, and he did it justice. Reminding us again that OAU was ranked 68th in Africa and 7,703 in the 2007 World Web metric Ranking, he launched into a detailed explanation and breakdown of how OAU could break into the top 200 Universities. Explaining that the Endowment Fund was crucial in OAU gaining financial autonomy, he gave a detailed and convincing 18 point proposal to move OAU into the top 200 World University Rankings. These include paying financial and insightful attention to areas of: Technology; Website; Facilities Management; Lab Equipment; Procurement; Books & Periodicals; International Student Exchange Programme, International Faculty Exchange Programme; Accommodation; Faculty Training Retention and Recruitment; Centres of Excellence; Feeder Programmes of Alumni into other top 200 universities; Quality of Student intake; Campus Security; Summer School; Branding etc. Lastly Mr Sodipo gave a very impressive and convincing breakdown of how the $100million Endowment Fund could be achieved in a detailed Great Ife Alumni Endowment Plan Summary, which he distributed to delegates present.
As the afternoon was all spent, the round table discussion was deferred to the Brainstorming Session that was later held during the San Francisco Aquarium of the Bay Tour, and Dinner Cruise (sorry I missed this but was told that it was very successful).
ALUMNI BANQUET DINNER
Sunday, 30th August was the Peak of the Reunion. The Alumni Banquet Dinner and Distinguished Alumni Awards were held in pomp and gaiety. It was a colourful event and rather than describe the setting and people, I have taken the pains to post some photos on the AL Community Pages.
The Highlights of the evening include:
1. Keynote Address:
Wole Soyinka, Nobel Lauret’s Keynote address titled “Lessons For the Irukere (horsewhip)”. This was presented via video link. In his usual fashion Professor Wole Soyinka gave an esoteric and highly symbolic speech on the use of the “Irukere” in making a Plea for the Aesthetic in Campus Life. Using innuendos and conjectures, Professor Soyinka launched into issues of Pan Africanism, and mentioned some clowns of African Leadership e.g. Mobutu to highlight the need for visionary leaders. Using the symbolic “Irukere”, Wole Soyinka gave examples of the numerous valuable uses of the “Irukere” vis-à-vis for Authority; as a soft and swift pestilence agents disposal; as a sensible aesthetic accessory/instrument which can inspire or douse inspiration. In his self same fashion of speaking frankly, using vivid words to portray stark realities, and with highly witty remarks, Wole Soyinka described what the Symbol of the Irukere was to e.g. Mobutu (absolute power), Aguye Ironsi (protection), Bokassa (weapon of evil use), Marwa (recognition), Jakande (who built cattle pens and goat sheds and called them “schools”; and Tinubu. The overall message in Wole Soyinka’s address was that the Irukere should become not just an instrument of power, but also a symbol of empowerment to all Great Ife Alumni.
2. Special Guest and Chief Launcher:
Donald Duke, Past Governor of Cross River State, in his humble and quiet fashion gave a brilliant presentation titled “Endowment Fund, Imperative for National Development”, and then formally launched the O.A. U. Endowment fund. First he explained why he would always be a Great Ife at Heart, if not in reality. Using a fable about A king, An Eunuch and A Beautiful Maiden with many suitors, Donald Duke taught the house why its important to get our S>H>I>T together (Skills, Health, Infrastructure, & Technology). Speaking about the Endowment Fund, Donald Duke explained that it is important that Universities (OAU in particular) has something to fall back on. While tuition cannot be increased, government funding is non existent. The Endowment target of $100million could be achieved via: Personal Donations; Partnerships; Skills Donations e.g. Voluntary Teachings; Equipment and Teaching Aids; Getting More Involved in Public Service. Giving a Donald Duke quote “The Enlightened should lead societies, and not be critics of societies” he advised that the Endowment Fund should be perpetual. Lastly he won the day, launching the O.A.U. Endowment Fund by pledging an annual sum of $100,000 for the next 10 years, much to the surprise and delight of the house. He received a well deserved standing ovation.
3. Special Awards:
Special Awards were given to Mr Eddy Olafeso, Professor Wole Soyinka, The OAU VC, Professor Faborode, Ex Governor Donald Duke, and last but not the least, Chief John Odeyemi.
4. OAU Alumni Award for Excellence:
The Evening ended on a very high note with the Presentation of OAU Alumni Awards For Excellence, first to Honourable Abike Dabiri-Erewa in the Management and Public Administration Category, and Secondly to a very Great Ife Medical Pride, DR OLUYINKA OLUTOYE, a Texas Pediatric Surgeon. Please check him out on the following links:
http://www.texaschildrens.org/CareCenters/FetalSurgery/Olutoye.aspx
http://www.cbsnews.com/stories/2008/06/06/evening news/main4161410.shtml
After the Dance, Alumni and guests shared contacts and bid the 5th OAU Alumni International Reunion farewell.
Diary Date: The 6th OAU Alumni International Reunion is slated for US Labour Day Weekend in 2010, at Washington DC.
Note from Omotaylor
As stated in part 1, my main purpose of writing a full report on the 5th Great Ife International Reunion and the $100million Endowment Fund, is to serve as a clarion call to all Great Ife Alumni in Nigeria and the Diaspora. As an Alumnus, I am appealing to all Great Ife Alumni worldwide to collectively and individually be worthy partakers of this major and great project. We have been well nurtured by our Alma Mater, we were lucky to enjoy good funding and a very educationally serene environment during our University days. OAU needs our support financially and morally. Nothing we do is deemed to small or too feeble. All fingers are not equal, but remember that little drops of water, makes the mighty ocean. Please hold Great Ife Great in your heart at all times. You can contact the University direct or any of the Alumni Associations in your area. Please spread the word round, send this write up to Great Ife Alumni members, friends and family. The assistance you give now will be remembered by posterity. GREAT IFE, Forever Great. Great Ife, We are moving on, Moving on to Greater Heights. Thank you all.
Guest Author
Oscar. H Blayton
Bunmi Adekunle
CareTaker
Codrin Arsene
Aba Boy
Dave O'Cube
Don Thieme
Emmanuel.K. Bensah
Ella Romanos
Charles E.
Holli Holdsworth
Misi Coker
Nzingha Smith
K A-T
Pamela Stitch
Sokari Ekine
Samantha Ofole-Price
Tomas Ernst
Thomas Gowans
Veronica Henry
Vic
Oluwole Akindutire
Xcroc
William J. Zick

Muti This
Misi | Sep 11, 2008 | Reply
My question has still not been answered. Why raise $100million? What will the money be used for? How did they reach that figure? It seems a lot of money to invest in ranking, I would like to know more detail about the money and the projected deadline for reaching the target?
Omotaylor | Sep 12, 2008 | Reply
Dear Misi, re your questions above, first I believe that the 18 point agenda (14 of which are listed above) does say what the money will be used for. Now for your two other questions, I will only be taking educated guesses if I attempt to answer the question for I am not a member of the fund raising committee. However I have forwarded your questions to a few people who I believe are in a better position than me to answer the questions posed. I have also requested that they answer via this blog page. Let us wait a bit.
By the way, although the ultimate aim is to get a better ranking position, the money raised will be invested in:
” paying financial and insightful attention to areas of: Technology; Website; Facilities Management; Lab Equipment; Procurement; Books & Periodicals; International Student Exchange Programme, International Faculty Exchange Programme; Accommodation; Faculty Training Retention and Recruitment; Centres of Excellence; Feeder Programmes of Alumni into other top 200 universities; Quality of Student intake; Campus Security; Summer School; Branding etc.”.
All these would be beneficial for OAU – students, lecturers and the community at large. So you see it is more than “just ranking”. Lastly I believe the target date is five years time, i.e. the $100million is to be raised over the next 5 years and hopefully expended judiciously over as many years as it would last bearing in mind the projects at hand.
Gbenga Agboola | Sep 12, 2008 | Reply
Hi Misi & Kunbi
Thanks for the questions and earlier answers on this subject matter. I will try to do a synopsis of the linkage between the endowment and University ranking targets, while answering your questions at the same time.
An Endowment Fund is an Investment fund that ONLY THE ACCRUED INTERESTS are available to spend.
All University Ranking Systems use a host of criteria which includes the infrastructural, physical and academic development and maintenance of Universities to determine their rankings. A good indication of how the Universities can achieve and maintain a high point in these criteria is often tied to the amount of the Endowment Fund of the University. Hence Havard and Yale Universities with Endowment Funds of $35b and $23b respectively are able to achieve the and maintain the highest rankings among world Universities.
Q. Why raise $100m? What will the money be used for? How did they reach that figure? It seems a lot of money invested in ranking.
A. Because we project that the simple or compound interests or immediate and long term return on investments that the target amount will generate for the fund should be enough to use in spending on the criteria used in ranking Universities which should take OAU to world University ranking #200, at the least. Right now OAU is ranked at #7,703 among the world best Universities.
Q. I would like to know more detail about the money and the projected deadline for reaching the target?
The Endowment fund will be managed by a competent board whose membership will be professional with represntatives of alumni and University management. The OAU Endowment Fund Board will usually appoint and brief a professional Fund Manager outfit who will invest the money based on the briefings from the OAU Endowment Fund Board.
Although the original plan submitted by the Endowment Strategic Committee of USA chapter of Great Ife Alumni Association (alumni group that did the initial foundation work on the Endowment Fund & University Rankings for OAU)was to raise the $100m from OAU alumni and friends in 5 years, but the timeline was revised to 3 years after the deliberations at the 5th Alumni International Reunion in San Francisco CA USA.
The strategy and resolution for raising the target amount involves various categories such as individual alumni, alumni groupings on professional basis, alumni businesses, friends, relevant businesses and governments, relevant multinationals and international donors. The basic level is that EVERY one of the 55,0000+ alumni of Great Ife will contribute or donate a MINIMUM of $1000 or equivalent amount one-time payment i.e(minimum of $350 per year or $30 per month for the next 3 years) In addition to this basic level, every alumni will also have to contribute to his/her appropriate goupings to meet the target amount expected from such groupings. For your information the Ife Medical Alumni (IfeMed) group was given a target of $2.5m to raise among their members, in addition to the basic $1000 minimum from every alumni.
May I end this summary and response with our definition of of an Unife/OAU alumni. Anyone who matriculated from Unife/OAU is considered to be an alumni. There is no formal application or initiation into Great Ife Alumni membership other than being a matriculate of Unife/OAU. So there is no issue about choice to be a member if you meet the above requirement. However you may choose to be an active or passive alumni in alumni matters. We hope and expect that ALL alumni will, at least, participate in the Endowment Fund legacy for our alma mater. I thank you for your time.
Great Ife forever!
Gbenga Agboola
President- Great Ife Alumni Association, Houston TX. USA.
Omotaylor | Sep 13, 2008 | Reply
@Gbenga
Thanks for the feedback. Grear Ife, Grrreeeeaaaat.
Dwaks | Sep 14, 2008 | Reply
Many thanks for the explanations. I always like to listen to those who are experts in the subject matter, but also appreciate why there is Power in numbers. We must work as a team and not as individuals in order to achieve the Goals set.
Omotaylor | Sep 15, 2008 | Reply
Related news curtesy of Vanguard (Nigeria):
OAU seeks N12bn to upgrade facilities
Written by Gbenga Olarinoye
Monday, September 15, 2008
THE Vice- Chancellor of Obafemi Awolowo University (OAU), Ile-Ife, Professor Michael Faborode, has declared that the institution requires about N12 billion for it to meet world standard.
Speaking weekend in Ile-Ife at the inauguration of the Central Executive Council (CEC), of the Student Union, Faborode said the fund would be used to upgrade facilities such as laboratories, lecture theatres, classrooms, hostels and others at the university.
According to him, OAU was not ranked among the best 200 in the world not because it could not boast of competent personnel who are of world standard but for the fact that some of the facilities there have either aged or are grossly inadequate.
The VC said the fact that the university was ranked the best in the country and one of the best in Africa was not enough based on the fact that it was not ranked among the best 200 in the world.
“The university will require about $100m (N12bn) to upgrade facilities on the campus for it to be able to be ranked among the best 200 in the world. We are not satisfied with our position in the country and Africa until we are ranked among the best in the world.”
Prof. Faborode said the university alumni who are based oversees particularly in US have indicated interest to raise fund for the purpose.
“The entire university community expressed sincere appreciation to the alumni association for their continued support. Their plan accords our plan for advancing the university,” he added