Varsity Chancellor,Olowolafe inaugurates 1bn innovation Fund to Boost Agro-tech in EKSU

…. introduces annual subsidy to support academic staff.


The newly appointed Chancellor of the Ekiti State University, EKSU, Ado-Ekiti, Dr Tunji Olowolafe has announced the commencement of a 1bn innovation fund to boost the operation of Agricultural technology already in place in the university.

Olowolafe stated this after his investiture as the new Chancellor of the University.

The investiture was performed on Olowolafe by the visitor of the institution and the state governor Biodun Oyebanji who is also an alumnus of the University.The event was part of the activities to mark the University’s 28th Convocation, held at the school’s main auditorium on Wednesday.

The Chancellor noted that the innovation fund is geared towards agro-tech companies founded by graduates and students of the university, stressing that Agriculture remains the backbone of the nation.

“Agriculture stands as the backbone of the nation and is the greatest potential for innovation and economic prosperity for us in Ekiti State and Nigeria at large.

“I am proud to announce the launch of a groundbreaking initiative, a 1bn innovation fund designed for agro-tech companies founded by graduates and students of the Ekiti State University.”

The Chancellor also announced the establishment of a new program which is designed to offer support and subsidies for up to 20 academic staff members annually.

According to him, the program will offer support and subsidies for up to 20 academic staff members annually, with the aim of facilitating their participation in international conferences, trainings, and other academic activities.

While congratulating the graduates on the new feat,Olowolafe urged them to channel their ambitions towards the reality of life, added that the current situation, needs, opportunities and future prospects of their environments to enable them on the right direction for success and achievement.


“There is nothing wrong with being ambitious but it is more important to match your ambition with reality. If you intend to live in Ekiti, you must recognize the realities of Ekiti, it’s current state, needs, opportunities and future prospect. Same applies to those intending to live elsewhere. Having an understanding of reality will enable you appropriately position yourself to thrive and succeed in your chosen location.” He added.

The state governor Biodun Oyebanji, congratulated the graduates, with urge on bright future in terms of employment, further education and entrepreneurship, he advised the graduands on self improvement and contribution to mankind.

He also congratulated the Chancellor on his appointment, stating that the University will benefit from his goodwill.

“I am thrilled by the expectation that the University will benefit enormously from your goodwill, wealth of means people and network of donors that can help improve the fortune of the University in a significant manner. Your appointment has received commendations from all stakeholders in the university, the society and across the world.”

Oyebanji also applauded the Vice Chancellor of the University, Prof. Edward Olanipekun for “his dedication to the affairs of the University for the past four years”

The governor maintained that “Olanipekun, who will be done with his tenure in the next few months,will be leaving the university far better than he met it.”

The EKSU Vice Chancellor in his address announced that a number of academic programmes at undergraduate and post graduate levels were recently approved by the National University Commission,NUC to begin from 2023/2024 academic session.

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