Lagos, Nigeria – Former Vice President, Prof. Yemi Osinbajo, SAN, has lamented the state of education in Nigeria, describing the nation’s schools as “broken” and “underfunded,” and warning that the country is paying a heavy price for decades of neglect.
Speaking on the theme, “Building Generational Strength for Educational Institutions in Nigeria,” at the 94th Founders Day of Igbobi College, Lagos, Osinbajo highlighted the critical role of foundational education in shaping future leaders.
Reflecting on his own formative years at Igbobi College from 1969 to 1975, he said, “The discipline of waking up at 5:30am and the ‘lights out’ rules in secondary school actually built great leaders… By the time a child turns 18, their ethical instincts are already likely formed.”
Osinbajo further emphasized the importance of endowments and private support for sustaining schools, noting that many prestigious institutions owe their longevity to contributions from alumni, corporate bodies, and other well-meaning donors. “Every investment in a school is an investment in the future of the country. Our early leaders didn’t emerge by accident; they were shaped by schools deliberately protected from volatility,” he said.
In line with this vision, the Igbobi College Old Boys’ Association (ICOBA) announced the launch of a ₦10 billion Endowment Fund aimed at revitalizing the school and securing its legacy for the next century. The fund will support the construction of new hostels, enhancement of science laboratories, and the introduction of advanced learning technologies.
Chief Yomi Badejo-Okusanya, 12th President of ICOBA, assured that fund management would be overseen by professionals from Chapel Hill Denham to ensure transparency and accountability. “We don’t want anyone to ‘use the money anyhow,’” he stressed, urging alumni to contribute and think of future generations.
Lagos State Governor, Mr. Babajide Sanwo-Olu, represented at the event by the Commissioner for Basic and Secondary Education, Hon. Jamiu Tolani Alli-Balogun, expressed government support for the initiative, highlighting the link between quality education and principled leadership. “When a school like Igbobi produces disciplined individuals, it helps the government save money on social problems and strengthens the leadership pipeline for the nation,” he said.
The event underscored the enduring importance of long-term investment in education, with Mr. Ademola Adeyemi-Bero, chair of the lecture, noting that endowments represent a shift from short-term interventions to sustainable institutional stability.
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