Loyola College Alumni Launch N750m Endowment Fund

The Loyola College Old Boys Association (LOCOBA) has launched a N750 million endowment fund to secure the long-term future of Loyola College, Ibadan. This initiative aims to address challenges related to infrastructure, maintenance, and capacity development amid decreasing public funding for education.

The fund will support various priority projects, including the renovation of science laboratories, rehabilitation of critical infrastructure, teacher development programs, and student leadership initiatives. Fundraising efforts are already in progress, with several alumni committing as anchor donors.

Gbenga Biobaku, the association's president, stated that the fund is designed as a long-term support vehicle, distinct from traditional fundraising efforts. It will operate under a defined governance framework, ensuring professional fund management, periodic reporting, independent audits, and a strict separation between endowment assets and the association's operational finances.

The campaign aims to mobilize contributions from alumni, individuals, organizations, and partners interested in education and youth development.