The Loyola College Ibadan Old Boys Association has launched a N750 million endowment fund to support infrastructure development, teacher training and other long-term needs of the secondary school in Oyo State.
The initiative is designed to provide sustainable financial support for the institution and reduce its dependence on periodic fundraising campaigns and external interventions.
The association’s Publicity Secretary, Alawode Churchill, disclosed this in a statement issued on Sunday, explaining that the fund would combine direct investment in priority projects with professional management of a portion of the contributions to generate recurring income for the college.
Under the proposed arrangement, the proceeds will support the renovation and equipping of science laboratories, rehabilitation of critical infrastructure, teacher development, student leadership programmes and improvement of sports facilities.
The President of the association, Gbenga Biobaku, said the initiative would establish a more permanent source of funding to sustain the college’s educational standards and support future generations of students.
He noted that Loyola College had played an important role in shaping generations of leaders and professionals, adding that the endowment would help preserve the institution’s contribution to education and national development.
The N750 million target is expected to be raised through contributions from alumni across different graduating sets, as well as individuals, organisations and other stakeholders interested in education and youth development.
The association said fundraising had commenced, with some former students already making commitments as anchor donors.
Unlike conventional fundraising campaigns, where donations are spent on specific projects, the endowment model is designed to preserve part of the contributions as an investment that can generate income for the school beyond the immediate fundraising period.
To ensure accountability, the association said the fund would operate under a governance framework that includes professional fund management, periodic reporting and independent audits. The endowment assets will also be kept separate from the association’s operational finances.
Founded in 1954, Loyola College, Ibadan, has produced graduates who have pursued careers in business, public service, academia, medicine and other professional fields.
The association said the initiative would preserve the school’s tradition of academic excellence, character formation and leadership development while establishing a sustainable financial foundation for its future.
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