Wale Oke demands TETFund access for private varsities

President of the Pentecostal Fellowship of Nigeria, Bishop Wale Oke.

The Founder and Chancellor of Precious Cornerstone University, Archbishop Wale Oke, has urged the Federal Government to extend the Tertiary Education Trust Fund intervention to privately-owned tertiary institutions, arguing that they also contribute to the country’s educational development.

Oke made the appeal on Wednesday during the fifth convocation ceremony of the university, an institution established by the Sword of the Spirit Ministries.

He stated that private universities should benefit from TETFund interventions because they also train Nigerian youths and contribute to the development of the country’s education sector.

“When you are investing in federal universities, you are investing in the future of Nigerian youths. So, it (TETFund) should be extended to private universities too. When you invest in private universities, you are investing in Nigerian youths as well,” he said.

The President of the Pentecostal Fellowship of Nigeria said private universities had demonstrated prudence in managing their resources, despite operating with fewer financial resources than many public institutions.

According to him, the exclusion of private universities from TETFund interventions was difficult to justify, considering that the fund receives contributions from private-sector organisations.

“This TETFund was contributed by the private sector. It is established through oil companies and other private institutions and taxes. The Federal Government does not pay tax. The Federal Government collects tax from these institutions.

“When they want to disburse the funds, they now exclude privately owned institutions from the money they collected from private organisations. You collect this money from private institutions like oil companies and banks; you should include private tertiary institutions,” he added.

Also speaking, the PCU Pro-Chancellor, Prof. Dapo Asaju, backed the call, saying private universities were making significant contributions to training Nigerians and strengthening the country’s education system.

He cited institutions such as Lead City University, Covenant University, Afe Babalola University and other private universities as examples of private universities contributing to human capital development.

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Asaju described the exclusion of private institutions from TETFund interventions as an injustice arising from policy and legislative shortcomings.

“For many years, people have been shouting that this money that is coming from the private sector should be given to the private sector for their educational advancement,” he said.

He stated that the scope of TETFund interventions had expanded beyond its original focus, while private universities continued to be excluded.

According to him, extending the intervention to private institutions would encourage their contributions and help address challenges affecting educational standards.

Earlier in his address at the convocation ceremony on Wednesday, the Vice-Chancellor of Precious Cornerstone University, Prof. Timothy Adejumo, disclosed that 184 students graduated in the institution’s 2026 graduating set.

He said 25 graduates obtained first-class honours, 69 earned second-class upper division, 44 graduated with second-class lower division, while 10 obtained third-class honours.

Adejumo also announced that seven academic programmes had received approval from the National Universities Commission, including Nursing Science, Public Health, Christian Religious Studies and Performing Arts.

The convocation ceremony, held at the university’s Chapel Auditorium, featured the presentation of degrees and awards to graduating students.

The overall best graduating student, Adelaja Temidayo, from the Department of International Relations, emerged with a cumulative grade point average of 4.85.