The University of Lagos is set to launch an endowment fund worth of $500 million to mark its diamond jubilee anniversary.
Pro-Chancellor/Chairman of the Governing Council, Senator Dr Olanrewaju Tejuosho stated this on Monday at the College of Medicine, UNILAG, Idi Araba, Lagos during the flag off of activities to mark the 60th anniversary of the university.
According to the Pro-Chancellor, the endowment fund is targeted at raising funds for the provision of new facilities and the upgrade of old ones in the university.
Meanwhile, Tejuoso has disclosed that the 13th substantive Vice Chancellor of the University of Lagos, UNILAG, will emerge Friday, this week.
The new VC will take over from Prof. Toyin Ogundipe, the 12th substantive VC, whose tenure ends next month.