By Ahmed Ahmed
The Trust and Investment Limited, (ATIL) of Abubakar Tafawa Balewa University Bauchi state has urged the Federal Government to encouraged and empower tertiary institutions to develop vibrant investment firms that will strengthen their internally generated revenue (IGR).
The Chairman of ATIL Alhaji Hassan Hussaini, who made the call on Monday in Bauchi during the 5th Annual General Meeting and presentation of the report and accounts for the preceding year 2018, said “The IGR could be used to finance some activities of tertiary institutions in the country.
He said most tertiary institutions in Nigeria have set up internally generated revenue units to source for funds in order to use in assisting government to finance the institutions. “The Internally generated revenue unit in higher institutions would serve as relief to government expenditure,” he said. Adding that all necessary logistics for adequate IGR management must be put in place to minimize fraud and misappropriation.
According to him, government at all levels should give their consultancy services and research to investment companies owned by the tertiary institutions: “be it academics or investment to create competition among departments, this will go a long way in sustenance of revenue base of our institutions.
He explained that the board had proposed N14. 7 million 2018 and that one N1. 025 million was realised as profit after tax. He stressed that the company is determined to engage in wide consultancy services in collaboration with academic departments in all fields covered by the university.
In his remarks the General Manager of ATIL Alhaji Auwal Aminu, had earlier disclosed that the Board has revamped the revenue generation of the Company through the establishment of new business outfits in the university.
“With regard to the diversification and expansion ventures such as Hotel, Water factory, Printing Press, Books and Souvenir Shop and Consultancy which will for boosting the financial strength of the University. The future is bright for this company,” he said.