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Loyola College Old Boys Association launches ₦750 million endowment to support long-term institutional development.
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Fund will target infrastructure renewal, science laboratories, teacher development, sports and student leadership.
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LOCOBA says professional management, independent audits and defined governance will protect the endowment.
October 2, (THEWILL) – Alumni of Loyola College, Ibadan, have launched a ₦750 million endowment fund aimed at strengthening the school’s long-term financial sustainability and supporting infrastructure renewal, human capital development and student development.
The initiative, announced by the Loyola College Old Boys Association (LOCOBA), is designed to mobilise contributions from alumni, friends of the College and other stakeholders to support the institution and preserve its tradition of academic excellence, character formation and leadership development.
LOCOBA said the initiative was conceived in response to the growing need for infrastructure rehabilitation, maintenance and capacity development, particularly amid increasing pressure on funding for education.
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Fund targets infrastructure, human capital development
Unlike conventional fundraising campaigns that are typically focused on specific projects, the endowment is structured as a long-term institutional funding mechanism.
Under the proposed arrangement, part of the funds will be deployed to priority development projects, while another portion will be professionally managed to generate recurring income for maintenance and future institutional needs.
Priority areas identified by the association include the renovation and equipping of science laboratories, rehabilitation of critical infrastructure, teacher development programmes, student leadership initiatives, sports development and projects aimed at improving educational outcomes.
Fundraising is already underway, with many alumni making early commitments as anchor donors.
The association said it hopes to mobilise support from alumni across graduating sets, as well as individuals, organisations and other partners interested in education and youth development.
Speaking on the initiative, the President of LOCOBA, Gbenga Biobaku, said the fund was intended to create a lasting financial foundation for the College.
“Loyola College has played an important role in shaping generations of leaders and professionals,” Biobaku said.
“This initiative will create a permanent foundation that enables the College to continue delivering educational excellence for future generations.”
LOCOBA sets governance framework for endowment
The association said the endowment would operate under a defined governance framework designed to ensure transparency and accountability.
It said the fund would be subject to professional management, periodic reporting and independent audits, while its assets would be kept strictly separate from LOCOBA’s operational finances.
According to the association, the ₦750 million target represents a collective effort by former students and other stakeholders to create a sustainable funding base for the College rather than relying solely on periodic appeals for project-specific support.
Founded in 1954, Loyola College, Ibadan, has produced generations of graduates who have gone on to careers in business, public service, academia, medicine, technology, and other professional fields.
LOCOBA said alumni, friends of the College, and other interested stakeholders who wish to participate in the fundraising campaign can obtain information on contribution modalities from the association’s Treasurer, Oluwole Ekemode.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
