King's College Old Boys' Association (KCOBA) in a landmark move aimed at restoring the 116-year-old institution to its position as one of Nigeria's leading secondary schools.
As part of the transformation initiative, KCOBA has launched a ₦100 billion Collegium Endowment Fund to finance the comprehensive revitalisation of the college.
The endowment will support infrastructure renewal, teacher development, digital transformation, scholarships, innovation, research and student welfare, while preserving the school's status as a federal public institution.
Speaking at a media briefing in Lagos, KCOBA President, Alhaji Kashim Ibrahim-Imam, described the Federal Government's approval as a historic milestone that could serve as a model for revitalising public education across Nigeria.
He explained that the concession does not amount to the sale or privatisation of King's College but represents a collaborative governance framework through which the alumni association will work with the government to improve infrastructure, strengthen institutional governance and enhance learning outcomes.
"There are occasions that simply mark the passage of time, and there are occasions that redefine history. Today belongs firmly to the latter," Ibrahim-Imam said.
Founded in 1909, King's College has produced some of Nigeria's most distinguished leaders across government, business, diplomacy, medicine, engineering, the judiciary and the military. However, the institution has faced years of deteriorating infrastructure and declining facilities.
To accelerate the school's renewal, the alumni association announced significant financial commitments from prominent members and supporters.
KCOBA President Kashim Ibrahim-Imam pledged ₦1 billion to the endowment fund, while former Chairman of the Board of Trustees, Philip Asiodu, and the association's new Board Chairman, Alhaji Femi Okunnu, each donated ₦100 million.
Nigeria's First Lady, Senator Oluremi Tinubu, also contributed ₦10 million in support of the initiative.
Ibrahim-Imam commended President Bola Ahmed Tinubu for approving the concession, describing the decision as a demonstration of visionary leadership and commitment to educational reform.
He also praised the Minister of Education, Dr. Tunji Alausa, for supporting initiatives aimed at raising standards in Nigeria's education sector.
Addressing concerns over the future of the institution, the KCOBA president assured Nigerians that the concession would not alter the federal character principle governing admissions into King's College.
"King's College has always been and will remain a truly national institution. It is not intended to become an exclusive school for the privileged. Every Nigerian child, regardless of economic background, will continue to have the opportunity to attend this great institution," he said.
According to Ibrahim-Imam, the ₦100 billion Collegium Endowment Fund will be chaired by the Emir of Kano, Muhammadu Sanusi II, while eminent banker Atedo Peterside and former Senate President Bukola Saraki will serve as vice-chairmen.
He further disclosed that the transformation programme includes plans to improve teachers' welfare by doubling their remuneration, expanding professional development opportunities and providing training in digital skills and leadership.
"No educational system can outperform its teachers. Teachers are nation-builders and the custodians of the future," he said.
Beyond infrastructure and staff welfare, the alumni association plans to strengthen the school's academic competitiveness through increased investment in science, technology, engineering and mathematics (STEM), robotics, entrepreneurship, research, debating, music, sports, arts and civic education.
Ibrahim-Imam called on parents, teachers, students, alumni and other stakeholders to support the initiative, stressing that its success would depend on transparency, accountability and sustained collaboration between the Federal Government and the alumni association.
"This is a victory for every parent who dreams of quality education for their child, every teacher who believes excellence deserves the right environment, and every student whose aspirations deserve world-class opportunities," he said.
Download our Mobile App for easy access
https://play.google.com/store/apps/details?id=com.edutvmobile.ng&hl=en
Mobile App Lite
https://play.google.com/store/apps/details?id=com.edutvng.lite
https://play.google.com/store/apps/details?id=com.edutvmobile.ng&hl=en
Follow us on Youtube
https://youtube.com/@edutvnigeria
Follow us on LinkedIn -
https://ng.linkedin.com/company/edutvnigeria
Follow us on Instagram
https://instagram.com/edutvnigeria
Follow us on Facebook
https://www.facebook.com/edutvnigeria
