‘And The Prof. Cried,’ Ibiyemi Olatunji-Bello Gets Emotional in Final Convocation Speech as LASU VC

The outgoing Vice-Chancellor of Lagos State University (LASU), Prof, Ibiyemi Olatunji-Bello, has revealed that the institution generated approximately ₦13 billion IGR over a four-year period between September 2021 and September 2025.

Platforms Africa reports that she made this known during her final convocation address at the grand finale of the university’s combined 29th and 30th convocation ceremonies, held at the Buba Marwa Auditorium.

Speaking at the event, Prof. Olatunji-Bello, said that the university’s Internally Generated Revenue (IGR) stood at approximately ₦3 billion when she assumed office.

She said, “We knew from the outset that a university perpetually dependent on government subvention alone could never truly control its own destiny,” she stated. “That is why we made IGR one of my six central goals, and I am proud to report that between September 2021 and September 2025, we grew our IGR from ₦3 billion to ₦13 billion—a fourfold increase.

“We achieved this by being creative, leveraging our internal capacity and competitive advantage, and fully automating our financial processes to close every leakage that had previously drained resources from this institution.”

Speaking further, she noted that LASU secured National Universities Commission (NUC) approval for 17 new academic programmes and emerged as Nigeria’s most-subscribed university for the second consecutive year, drawing over 84,000 first-choice applicants in the 2026 Unified Tertiary Matriculation Examination (UTME).

She said the university executed more than 50 infrastructure projects funded through the Lagos State Government, Federal Government, TETFund, private donors and internally generated revenue.

The projects, she said, included the Students’ Arcade, 8,000-bed hostels and the N3 billion TETFund-sponsored Academic Resource Centre.

On sports, she said LASU emerged second overall at the 11th All-Africa University Games in 2024 and won 39 medals at the 2025 Nigeria Universities Games.

The LASU Queens, she added, became the first Nigerian university team to represent Africa in female football at the FISU World University Games.

On research, Olatunji-Bello disclosed that LASU researchers secured N29 million in grants from the Lagos State Research and Innovation Council.

She also said the Federal Government, through TETFund, approved N3 billion for a Centre of Excellence in Artificial Intelligence, Robotics and Cyber Security at LASU, which she described as the only centre of its kind in the South-West.

In her appreciation, the Vice-Chancellor, in an emotional voice, thanked Sanwo-Olu for “the platform, the confidence, and the unwavering support.”

She also described the five uninterrupted convocation ceremonies held during her tenure as a record of stability and one of her proudest achievements.

Platforms Africa reports that the Lagos State Governor, Mr Babajide Sanwo-Olu, announced a ₦20 million donation each to the two best graduating students of the sets. They are Ayilara Lawal Olawale (Project Management, with a CGPA of 4.96) and Adebanjo Oluolamide (Aerospace Engineering, with a CGPA of 4.97) of the 2024/2025 and 2025/2026 academic sessions, respectively.

At the ceremony, LASU conferred honorary doctorate degrees on three distinguished Nigerians.

They were Alhaji Aliko Dangote, GCON, who was represented by his daughter, Mrs Fatima Dangote, for his contributions to entrepreneurship, industrial and human capital development; Mr Akin Kekere-Ekun, OFR, for entrepreneurship, finance and management; and Mrs Harriet-Ann Omobola Bola Adesola, former Chief Executive Officer of Standard Chartered Bank Nigeria, for her contributions to corporate finance and governance.

Aliko Dangote promised to build a ₦600 million girls’ hostel for the university.

Platforms Africa