The Loyola College Old Boys Association has launched a N750 million endowment fund to finance infrastructure renewal, teacher development and other long-term needs of the Ibadan-based secondary school.
A statement signed by the association’s publicity secretary, Alawode Churchill, disclosed this on Sunday.
The move, the statement said, is aimed at reducing the school’s dependence on periodic fundraising and interventions.
The association said the fund would combine direct investment in priority projects with the professional management of part of the contributions to generate recurring income for the school’s maintenance and future development.
The initiative is intended to address what the alumni described as growing infrastructure, maintenance and capacity development challenges facing the college, amid pressure on public funding for education.
Under the proposed arrangement, contributions will support the renovation and equipping of science laboratories, rehabilitation of critical infrastructure, teacher development, student leadership programmes and sports facilities, among other priorities.
The President
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