Former students of Loyola College, Ibadan, have established a ₦750 million endowment to support the Nigerian school’s long-term development. The fund will finance infrastructure upgrades, staff and student development, and a more durable funding base for the institution.
Quick facts
- Target size: ₦750 million
- Priority projects: science laboratories, essential infrastructure, teacher training, student leadership and sports
- Funding model: immediate project spending alongside professionally managed capital for recurring income
- Established: 1954
The Loyola College Old Boys Association, known as LOCOBA, is seeking contributions from alumni, the school’s supporters and other stakeholders. The campaign is intended to reinforce one of Nigeria’s oldest secondary schools and protect its record in academic performance, character building and leadership preparation.
Association officials said the initiative reflects mounting needs for construction work, maintenance and institutional capacity at a time when public education funding is under increasing strain. Rather than serving as a series of one-off interventions, the endowment is structured to provide continuing institutional support.
Part of the money raised will be allocated to urgent projects, while the remainder will be invested under professional management to produce income for upkeep and longer-term requirements. Planned uses include upgrading and furnishing science laboratories, restoring key facilities, developing teachers, supporting student leadership programmes, expanding sports and improving learning outcomes.
LOCOBA said fundraising has begun, with several former students already offering initial commitments as anchor contributors. Gbenga Biobaku, president of the old boys’ association, said the school had helped shape successive generations of professionals and leaders.
Biobaku said the endowment would give Loyola College a lasting financial base from which it could continue providing high-quality education to future students.
The association plans to administer the fund through formal oversight arrangements, professional investment management, regular disclosures and independent audits. Endowment assets will also be kept separate from LOCOBA’s day-to-day operating finances.
The ₦750 million goal will be pursued through donations from alumni across different graduating classes, along with support from individuals, institutions and partners focused on education and youth development.
Founded in 1954, Loyola College, Ibadan, has produced graduates who have built careers in business, government, academia, medicine, technology and other fields.
Details about how to contribute and participate are available from Oluwole Ekemode, treasurer of LOCOBA, at 0803 370 6075. Alumni, friends of the school and other interested parties are invited to contact the association for further information.
Media enquiries may be directed to Alawode Churchill, publicity secretary of the Loyola College Old Boys Association, on 0803 368 0751 or at [email protected].
