How Nigeria’s universities can tap alumni support to bridge funding gaps

With dwindling government allocations and rising operational costs, Nigeria’s public tertiary institutions are increasingly grappling with financial strain.

One often overlooked solution lies in tapping the power of alumni networks. Experts say by leveraging alumni support, tertiary institutions can bridge funding gaps and drive growth.

Kayode Soremekun, former vice-chancellor at the Federal University, Oye-Ekiti (FUOYE), explained that some foreign universities derived about 30 percent of their operating costs from alumni networks.

He urged Nigerian public institutions to learn from their foreign counterparts and reset the mindset of seeing the responsibility as sole that of the government.

Institutions such as Harvard, Yale, MIT, Oxford, and Cambridge among others, he noted, are clear examples that have tapped alumni networks to boost their revenue.

To do this, he emphasised the need for universities to put in place a functional alumni office to be in touch with past students to rally their support for the school.

“Once there is a functional and vibrant alumni office; the next thing a conscious effort must be made to link up with the alumni and alumni wherever they are in the world,” he said.

Soremekun noted that in an age of social media, connecting with alumni is easier, urging the universities to look beyond the shores of the country in building its alumni circles.

However, he said the universities cannot do this alone, hence, the former FUOYE vice-chancellor urged the universities to collaborate with the government.

Nubi Achebo, director of academic planning at Nigerian University of Technology and Management (NUTM), believes tertiary institutions can focus on building emotional connections with their graduates through strategic relationships such as storytelling, alumni engagement, recognitions, and personalized attention, among others.

“Share stories of current students, faculty, or research projects that highlight the university’s impact, and host events, webinars, or reunions that bring alumni together and foster a sense of community.

“Acknowledge and celebrate alumni achievements, showcasing their successes; invite alumni to mentor students, share expertise, or participate in advisory roles, and tailor donation requests to alumni interests and passions,” he said.

Besides, Achebo emphasised that the institutions must prioritise transparency and accountability to sustain trust.

“There must be clear communication on how funds will be used, ensuring donors see the impact of their contributions.

“By focusing on these strategies, universities can nurture a culture of giving and encourage alumni to invest in their alma mater,” he said.

Stakeholders believe that funding of education by only the government will bring about underachievement of the goals of education, especially at the tertiary level.

Seye Joseph, a media entrepreneur, said one way universities can leverage alumni support is by strengthening associations and networks.

“Many Nigerian universities are under-utilising their alumni groups potential. By maintaining accurate alumni databases and regular communication through meetings, newsletters, and events, universities can build stronger relationships.

“When alumni feel connected to their alma mater, they are more likely to contribute financially and participate in development initiatives,” he said.

Besides, he said alumni can support students through scholarships, mentorship, and internship programmes.

“Many graduates hold influential positions in different sectors of the economy and can help connect students with career opportunities.

“Their professional experience can also benefit universities through guest lectures, advisory roles, and curriculum development,” he noted.

Lessons from Bill Gate and Michael Bloomberg

In 2025, Bill Gate made significant donations to his alma maters and affiliated institutions, gifting $40 million to Lakeside School in Seattle for financial aid and staff salaries.

Besides, he donated $20 million to Harvard University, where he was a student in 1996 for a computer science building.

Michael Bloomberg, a 1964 alumnus of Johns Hopkins University, donated more than $3.5 billion to his alma mater.

According to AJC, Oprah Winfrey, the media mogul, donated over $25 million to Morehouse College, establishing the Oprah Winfrey Scholars Programme.

Which is the largest endowment in the school’s history, supporting more than 600 black men.

In Nigeria, Abdul Rabiu, chairman of BUA Group, invested $12.3 million in a new educational complex at the University of Maiduguri for improvement of infrastructure, though not his alma mater.

The funding of tertiary institutions has always been a problematic issue, irrespective of the economic environment within which the institutions operate.

Though some public tertiary institutions have ventured into bakery, table water, and hospitality and transportation businesses to boost their internally generated revenue (IGR), many of these institutions are still grappling with a funding crisis.

Friday Erhabor, the director of media and strategies at Marklenez Limited, said many public universities can mitigate their financial crunch by embracing alumni and endowment support, which he acknowledged that some are already doing.

“I think the creative ones have been doing that. For instance, in the University of Nigeria, Nsukka, the Mass Communication Department graduates from the institution are raising funds to build a befitting ‘Jackson Building’ which is their department building; a lot of them are already doing it,” he said.

According to the Harvard University website report, endowment funding is the university’s largest financial asset and a perpetual source of support for the institution and its mission of teaching and research.

The endowment is made up of approximately 14,765 funds; the two largest categories of funds support faculty and students, including professorships and financial aid for undergraduates, graduate fellowships, and student life and activities.

In 2025, Harvard University got a massive endowment funding, reaching $56.9 billion. Alumni donations are critical to Harvard University’s operation, covering a significant portion of its budget.

World University News report in 2025 indicates that philanthropic donations to South African universities have grown in recent years, with the likes of the University of Cape Town leading in raising significant local and international donations, with national funders contributing 24 percent of the donation income in 2023.