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4 www.unredfoundation.com
3 www.allafrica.com
2 www.businessdayonline.com
1 www.fanafiworldwide.com
 
The healthcare project for Nigeria
"It was while I served at St. John’s University, New York in the early 80’s that I became especially troubled about the state of healthcare services in Nigeria. At first I felt quite helpless about the scope and magnitude of the problem. But I eventually decided to pursue an idea that I felt would make significant contribution to alleviation of the problem. As you can appreciate, the key to making any significant and lasting impact on the problems of healthcare in Nigeria is having a dependable source of large sums of money – not just for the development of the proper healthcare infrastructure, but also for the perpetual maintenance of the infrastructure. I decided to set up a modern drug manufacturing company which will have the capacity to earn significant sums of money, and the sensitivity to commit the profits from this enterprise to the development of the healthcare sector in Nigeria. I still have in my files copies of letters I received from four state Governors in the United States expressing interest and outlining the benefits of locating the pharmaceutical manufacturing plant in their states. I visited their respective states, but eventually decided to locate the plant in Nigeria for only one reason: a local modern generic drug manufacturing plant in Nigeria would make available to our people a reliable source of affordable high quality essential drugs, which will markedly contribute to quality healthcare in Nigeria by alleviation of unnecessary drug scarcity..." more
 
Revamping university education system.
"There are too many problems with our university educational system. One of the first things that should be one to revamp it, is to perfect the proclaimed autonomy of universities in Nigeria, which should include absolute and total powers to the Vice Chancellor and university council. The search for a Vice Chancellor should be a nationwide search for the most qualified and credible candidate, regardless of state of origin and affiliation of the candidate. Once the best candidate is selected for the job, he should be given the support, freedom, and the long tenure required to build the university.  The current one-time tenure of five years is unreasonable. In the United States a university president is appointed for life or until he retires; but he can be removed from office if he or she is not doing the job well. The appointment of university council should not be politically motivated; rather, the best and most qualified candidates, with integrity and proper professional experience, are appointed to guide and interpret the policy matters of the university. The Vice Chancellor, as Chief Executive Officer, should have the latitude to administer the global and day-to-day goals and programmes ..." more
 
Creation a robust university
After raising the investment capital of N14 billion, the management of University of Nigeria Research and Economic Development (UNRED) Foundation shall orchestrate several specific investment and industrial activities under the umbrella of several limited liability companies each headed by a seasoned managing director. Some of these investment and industrial activities are already well defined; others will be selected by consensus based on opportunities in the market place. Specific activities that have been selected and defined include:

UNRED Investment and Acquisition Company
About 20 to 25 per cent of the N14 billion total capital raised by UNRED shall be allocated to sensible and carefully thought out investments and acquisitions. The managing director of UNRED Investment and Acquisition Company shall operate under the guidance of UNRED Investments Committee to span the national and International Investments market to select prime and profitable capital growth opportunities. This shall be characterized by a good mix of aggressive short-term, high yield capital growth opportunities, and long term stable prime instruments, designed to yield and secure a minimum of 60% annually as a mixed portfolio..." more

 

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