Why faith-based varsities charge high fees – Olukoya
The General Overseer of Mountain of Fire and Miracles Ministries (MFM), Prof. Daniel Olukoya, recently explained why faith-based universities in Nigeria charge high fees.
Olukoya, who was conferred with an honorary doctoral degree in Management by the Federal University of Technology Akure (FUTA) during its 34th and 35th convocation ceremonies, attributed the high school fees to the cost of energy required to run these institutions.
He said, “It is not the fault of those proprietors. I am one of them. I am always supportive of the poor because I know how difficult it was for me to get to the university. My parents didn’t have the money.”
He continued, “But the current situation is that if you cannot pay good money to lecturers or professors, you won’t get good teachers. And if you run a private university and are paying less than federal universities, you will not get good professors.”
Olukoya further explained that the cost of financing and paying salaries, especially the energy costs, contributes to high fees. “Running a university on a generator is expensive. In our university, most of the money goes to buying diesel. It is only now that we are installing solar power.”
When asked about the ongoing insecurity in Nigeria, Olukoya advocated for divine intervention through prayer. He stated, “There is only one weapon that can kill any problem, and it is prayer. No matter how strong the problem is, prayer can dismantle it.”
Olukoya emphasized that Nigeria needs divine intervention, as “what we need in Nigeria is divine intervention. Let God intervene in what we are doing. Divine intervention is greater than human intellect. From what is happening in the world, you can see that God is showing mankind that they are helpless.”
Earlier, the Vice Chancellor of FUTA, Prof. Adenike Oladiji, announced that the institution graduated 6,405 students across the two academic sessions.
She shared that of the graduates, 519 students received first-class honors, 3,408 earned second-class upper division, 2,139 were awarded second-class lower division, and 339 students graduated with third-class honors.
Oladiji further stated that FUTA is ranked among the Top Ten universities in Nigeria and has maintained its position as the best University of Technology in the country for two decades.
Additionally, two other distinguished Nigerians, Messrs. Ayorinde Ogunruku and Joel Ogunsola, were also conferred with honorary doctoral degrees during the ceremony.
