A former Minister of Finance, Dr Mansur Muhtar, has called for inclusive partnership among government, industry and academia to fund education and halt brain drain.

The former minister, who spoke at the 26th Founder’s Day Lecture of Igbinedion University, Okada (IUO), titled: “Reimagining university education in Nigeria for a more sustainable future”, emphasised the need to blaze the trail in redefining tertiary education.

The erstwhile minister, who is the current Chairman of Bank of Industry (BOI), lauded the institution for pioneering private university education in Nigeria.

“Igbinedion University stands as a beacon of what vision and commitment can achieve. But as we celebrate its legacy, we must also confront the sobering reality, Nigerian university education is in crisis,” he said.

Muhtar, a renowned economist and banker, identified outdated curricula, rote learning, decaying infrastructure, underfunded research, and a disconnect from real-world challenges as key obstacles hampering tertiary education in the country.

“It is no longer enough to reform or tweak. We must reimagine. Universities must evolve into problem-solving institutions that equip students for a rapidly changing world shaped by Artificial Intelligence (AI), climate change, and digital disruption,” Muhtar added.

He proposed a five-pillar strategy for reimagining higher education, such as developing dynamic and flexible curricula, embracing hands-on learning, investing in digital infrastructure, funding relevant research, and upholding ethical and visionary leadership.

The Vice Chancellor, Prof Lawrence Ezemonye, said the event was an opportunity to reflect on the journey, acknowledging the milestones achieved and reaffirming commitment to the ideas upon which the institution was built.

“We can better understand the growth of the institution over the years if we consider the circumstances in which our university was founded and subsequent growth in stature, visibility, acceptability, and quality service delivery,” he said.

Ezemonye added that the establishment of the school in 1999 laid the trajectory for private sector intervention in university education in Nigeria.