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The Central Bank of Nigeria (CBN),Monday donated the sum of N10 billion as intervention fund to the Usman Danfodio University, Sokoto to build infrastructure, capacity and manpower development.
The CBN Governor, Mallam Sanusi Lamido Sanusi, disclosed this yesterday during a meeting with the management of the institution at the main campus of the university in Sokoto.
He described the N10 billion intervention fund as part of CBN’s corporate social responsibility for 2013 aimed at building capacity and manpower as well as infrastructure in the university, with a view to making the Nigerian economy at par with top economies in the world.
According to him, the Nigerian economy could only move to an appreciable level, if it has trained a highly skilled manpower.
“As you are aware, the federal government has a vision to put the Nigerian economy among the top 20 economies in the world by the year 2020 so that our financial sector will be at par with that of developed economies.
“So, you can only have the best economy if you have highly trained manpower and this intervention fund is aimed at developing highly skilled manpower in the university to help drive the nation’s economy to a desired level,” he said.
Sanusi, who spoke through the Deputy Director, Projects, Planning and Implementation Division, Procurement and Support Services Department of the CBN, Mr. Kabiru Nuhu Koko, stated that the intervention fund would be chanelled towards improving facilities in the university.
He emphasised that the funds would mainly be targeted towards certain projects that had to do with the immediate needs of the university.
He disclosed that the CBN selected six secondary schools, six tertiary institutions and six public sector institutions across the six geopolitical zones of the country for its intervention this year.
In his remark, the Vice-Chancellor, Usmanu Danfodio University, Sokoto, Prof. Riskuwa Arabu Shehu, described the intervention fund as historic and unprecedented, saying it would go a long way in improving facilities and enhancing research in the institution.
He stated that with the intervention fund, the university would be repositioned to enable it compete with other universities across the globe.
He notedthat Usman Danfodio University was the only university that was not given take-off grant at the time of its inception unlike its counterparts in the country, which hampered the development of infrastructure at the institution.
“Since its inception, Usman Danfodio University has been trying to meet up with its mandate in spite of the limited resources at its disposal and this is due to the fact that it was the only university that was not given take off grant at the time of inception,” Shehu said.
“So, today is historic in the sense that this is the first time we are getting an intervention of this magnitude. And we strongly believe that the N10 billion intervention fund will augment our little efforts to see that the university is repositioned by addressing its needs because no country can develop without quality education,” Shehu stressed.
He said to this end, the intervention fund would enable the university meet its needs in areas where it has deficiencies, adding that the funds would be utilised judiciously to improve on infrastructure and the enhancement of advanced research in the institution.
The vice-chancellor therefore, commended the CBN management for its commitment and drive towards building a stronger nation
