Former Vice President, Professor Yemi Osinbajo, SAN, GCON, has emphasized the need for educational institutions to build sustainable financial strength through endowment funding. He made this call while delivering the 94th Founders’ Day Lecture, on Monday 2, 2026 at Igbobi College, Yaba, Lagos.

The event was moderated by Professor of Strategy and Development, Prof. Anthony Kila, and centred on the theme: “Building Generational Strength for Educational Institutions in Nigeria.”

Osinbajo highlighted that endowment funding provides long-term financial stability, enabling schools to support staff and students, maintain facilities, and expand academic programs. He cited US institutions like Phillips Academy, Andover, with $1.3 billion endowments, as examples.

Describing endowments as a strategic tool for sustaining educational institutions, Osinbajo emphasized they preserve standards, cultures, values, and norms, beyond just financial resources. He pointed to Igbobi College’s history, founded on endowment support, as a case in point.

Osinbajo concluded that education’s lasting impact means “Every investment in a school is an investment in the country’s future.”He credited Igbobi College’s disciplined, value-driven environment for shaping his achievements, including the State Merit Award and African Statesman  Intercollegiate Best Speaker’s Prize.

His secondary school experience (1969-1975), instilled values like respect, balance, and self-respect, guiding his principled stance in government. “I served in several governments, but I was never able to be sycophantic,” he noted

The event kicked off with Chief Yomi Badejo-Okunsanya, the 12th President of Igbobi College Old Boys’ Association, highlighting the College’s renewed focus on academic excellence, innovation, and character formation.

To drive this vision, ICOBA launched a ₦10 billion Endowment Fund aimed at revitalizing the school and securing its legacy. The fund will support key projects, including new hostels, upgraded science labs, and advanced learning technologies.

Assuring stakeholders of transparency, Chief Badejo-Okusanya said professional asset managers, Chapel Hill Denham, will oversee the fund. “We don’t want anyone to ‘use the money anyhow,’” he emphasized, urging alumni to contribute generously. He stressed that quality education requires investment, citing the Igbo proverb, “Good soup na money kill am,” and encouraged contributions, even from deceased alumni’s estates.

Mr Ademola Adeyemi-Bero, who chaired the lecture, said the endowment represents a move towards long-term stability, shifting from short-term fixes to sustainable management of educational assets.

Commissioner Jamiu Tolani Alli-Balogun, representing Governor Babajide Sanwo-Olu, pledged government support for initiatives like ICOBA’s fund. He said schools like Igbobi produce disciplined individuals, saving on social issues and boosting national leadership linking quality education to national growth.

He stressed sustainability is vital for educational excellence, and the endowment fund launch shows commitment to long-term quality education

Mr Wale Adeosun, Chairman of the Endowment Fund Committee, emphasized the need for collective support for Igbobi College’s ₦10 billion Endowment Fund, describing it as a strategic investment in Nigeria’s educational future. The fund aims to position Igbobi College among Africa’s top 5% secondary schools by 2035 through world-class infrastructure and tech-enabled learning.

Adeosun outlined a multi-pronged strategy involving alumni, corporate donations, and partnerships, with 10% of the target already committed by alumni. He envisions blending Igbobi’s heritage with modern innovation to redefine learning.

He brings extensive global experience, serving on boards and previously chairing the $280 billion New York State Common Retirement Fund’s Investment Advisory Committee. He’s founder and CEO of Kuramo Capital Management and Chairman of the Nigeria Higher Education Foundation.

He stressed that sustainability is key to educational excellence, noting that launching an endowment fund shows commitment to long-term quality education. Adeosun’s vision is to make Igbobi College a model for educational institutions in Nigeria. The endowment committee is chaired by Mr. Kunle Elebute.

ICOBA presented plaques to Osinbajo and Sanwo-Olu at the event, which drew alumni from Nigeria and abroad, as well as students and staff. The Founders’ Day celebration, organised by ICOBA, included a Holy Communion service at Igbobi College, Yaba, founded by Anglican and Methodist missions.

The Igbobi College Old Boys Association (ICOBA) launched a ₦10 billion endowment fund to preserve the school’s vision of nurturing future leaders. The fund will sustain academic standards, strengthen infrastructure, and secure Igbobi’s legacy.

Notable attendees included Lagos State Governor Babajide Sanwo-Olu, represented by Education Commissioner Tolani Ali-Balogun; Prof. Yemi Osinbajo, SAN; Methodist Bishop S.T.V. Adegbite; Anglican Bishop James Odedeji; and Wale Adeosun, Endowment Fund Committee Chairman, Mr Kunle Elebute.

Other attendees included alumni, students, and staff of the college.