 Your Excellency, the former president of the Federal Republic of Nigeria and chairman of this occasion, Chief Ulusha Gumobasanjo, GCFR, Director, Yaba College of Technology, Engineer, Femio Mokungwe, the governing council of the Yaba College of Technology, academic and non-academic staff, members of the Alumni Association, public and private sector partners, honored guests, ladies and gentlemen. Institutions of higher learning are to all intents and purposes designed to guide and nurture a society's pathway into the future. They are the proving ground for our best ideas, the birthplaces of innovation and groundbreaking research. But research and inquiry may lead to revolutionary discovery or lead nowhere at all. Either way, the process is expensive and can only depend on large sums of patient capital. So the problem always is how do you fund world-class relevance cutting-edge higher education sustainably? The question has even greater resonance in Africa, where public resources are low and the poverty levels put access to quality education beyond the reach of many. From the moment our government assumed office in 2015, we resolved to increase education funding. So year on year, we increased budget allocation. We took capital allocation for education up to 35.99 billion naira in 2016. We stretched it further to 56.81 billion in 2017. By 2018, we had increased capital budget allocations for the sector to 102.9 billion naira. And the trajectory has remained upward. But clearly, these allocations are not enough. And they cannot be. It is unrealistic to rely on public finance alone for higher education, especially in a country the size of Nigeria. Much wealthier countries than ourselves do not leave funding for higher education to government. There must be robust private sector interventions that are visionary in their approach. It's no mistake that one of the largest economies in the world, and arguably the most technologically advanced, the United States of America, also has some of the best and most prestigious universities. American colleges and universities have been sustained and supported by endowments for over 200 years. The total value of Harvard University's endowment in its 2020 fiscal year was 42 billion US dollars. Yale University was 31 billion US dollars. Stanford University, 29 billion US dollars. These endowments have been at the heart of some of the most important discoveries in science and medicine and education and the arts. Yapa College of Technology is, in my view, one of the best institutions to use as proof of the concept that we can indeed develop world-class higher institutions for innovation and research using both private and public sector finance. This is a great institution. It was imagined to be at the forefront of producing the technical talent needed to drive the industrialization of a nation confidently coming into its own. And this is a responsibility that Yaba Tech has shouldered admirably for decades, equipping thousands of young people in engineering and applied sciences in fine arts and the performing arts. Many of her alumni have gone on to attain local and international recognition. It is also perhaps the first tertiary institution to intentionally establish the crucial link with the innovation and commerce ecosystem by the creation of the Center for Entrepreneurship Development. Indeed, a connection which is not often made, but which I believe is valid, is the success of the Yaba innovation and technology community in Lagos, which is widely known and referred to as the Silicon Valley of Nigeria due to the concentration of technology and innovation companies within that Yaba environment. I think it's the case that a lot of the tech startups from that vicinity have grown and flourished into highly profitable businesses. Some of these businesses are taking the status of unicorns which are companies worth over a billion US dollars because of the highly skilled graduates in modern technology and management and other fields of study that have come out of Yaba Tech. So the 50 billion ambition of this endowment fund, in my view, mirrors your vision for this great institution and demonstrates your keen awareness of what is truly at stake. And we must approach this with a sense of mission and duty. We must augment the government's finest intentions with our individual and collective desire to see us do better, to see Africa do better, to see our children step into the global arenas of enormous and unprecedented opportunities. One thing is clear. Young Nigerians will always rise to the stature of the challenges that the world presents them, and even beyond, so long as we continue to provide a platform for them to stand on. This is the opportunity that we have to reach across our extensive alumni networks and rally the best of us together for the achievement of this vital cause. This is the time to demonstrate our commitment to succeeding generations and our sense of legacy. The truth is that we can completely transform our nation's education sector with radical, long-term commitment and investment from the private sector, a win-win situation for all of us eventually. And I trust that this will be a solid start and step in that direction. Before I end, let me add a word of advice. All institutions the world over that have successful endowments also have very well resourced endowment offices. The best skills in investment and management must be recruited. Endowment funds, of course, are to be invested wisely with the best professional guidance. An institution that has a 50 billion endowment has more money than many states of the federation have at any point in time. So compensation for the high quality of personnel for the job may also mean going outside government salary structures, and I think it will be well worth the trouble and the money. I commend the governing council of the Yaba College of Technology and the administrative and teaching staff for this initiative. Like many others, we are confident that Yaba College of Technology, given its track record and the support that this endowment will bring, will be one of the frontline institutions that will determine the future of technology, innovation and creativity in Africa and indeed the world. I invite all our friends and partners in the private sector and individuals to commit generously to this endowment, not just today, but on an ongoing basis. Thank you very much. God bless you.