The newly installed Chancellor of Ajayi Crowther University (ACU), Oyo, Chief Dr Tunde Afolabi has assured the management and proprietors of the institution of his plan to invest over N1billion in the institution during his tenure.

Afolabi made the pledge at his installation as the new Chancellor at the 11th Convocation lecture of Ajayi Crowther University held at the institution, on Thursday at the Modupe and Folorunso Alakija auditorium Faculty of Law in Oyo.

He was decorated by the representative of the proprietor, The Most Reverend Dr Friday John Imaekhai and the Pro chancellor and chairman of the governing council, Chief Wole Olanipekun.

The Nigeria News Agency reports that Afolabi is the Chairman and Chief Executive Officer, Amni International Petroleum Development Company and recipient of Member of the Order of Federal Republic (MFR).

NAN also reports that Afolabi, who is also the Chancellor of the Technical University (Tech-U), Ibadan, took over the ACU Chancellorship from former Anglican Primate of the Church of Nigeria, The Most Rev’d Peter Akinola.

Afolabi who is currently sponsoring about 125 students on full scholarship and with N20,000 monthly stipends said he is ready to invest the money in building both physical and academic infrastructure in the school under a seven-point agenda.

He said: “I have seven-point agenda as the chancellor of Ajayi Crowther University. My first agenda is that I pledge to invest over N1billion to develop both physical and welfare in this institution. My role comes with great responsibility.

He said the investment would complement a seven point agenda he developed for the institution which were targeted at staff remuneration, admission standard and facilities.

“Some of my priorities are to foster synergy and collaboration with other universities within our vicinity and expand our Corporate Social Responsibility (CSR) to our host community.

“It is also to develop a growth road map for the university in the short term in the next 12 months, medium term in the next two to five years and long term in the next five year plus,” he said.

Also, the former Vice Chancellor of University of Ibadan, Prof. Ayo Banjo, and Chairman, Board of Trustees (BoT) of the institution, said that the board was highly satisfied with the choice of Afolabi

He described Afolabi as an outstanding Nigerian, who has demonstrated love for tertiary education in many ways, particularly at ACU.

Sir Demola Aladekomo, the Guest Lecturer, in his lecture entitled ‘The Race of Life’ advised the graduating students to see their first degree as a starting point, and urged them to build on it for future prosperity.

“Life is an individual race, a competition with yourself and not the next man or woman. It is a single-player game. Your destiny is not tied to your mates. It is not even tied to your twin if you have one,” he said.

“Most of you are heading out in an uncertain future. Unemployment for young people is high. But there is no unemployment for those who know how to identify and meet the needs of others either close to them or far away.”

Aladekomo urged the graduands to embrace the 4C’s, which are critical thinking, communication, creativity and collaboration, saying these would help them surmount challenges, break new grounds and reach new heights.

The event featured the dedication of the new ACU 98.5 FM radio station and the inauguration of some other projects at the university.

The event was attended by Mrs Tola Oyediran, Leye Oyebade AIG, Zone II, Prof. Oladapo Afolabi, a former Head of Service of the Federation, religious leaders, academicians and hosts of other prominent Nigerians.