A consortium of investors has been assembled to establish a N50 billion research endowment fund for European University Abuja, positioning the institution as a major centre for medical and technological research in Nigeria.
Professor Emmanuel Ibezim, Vice Chancellor of EUN, urged matriculating students to remain focused and uphold strong character throughout their academic journey during the institution's maiden matriculation ceremony on Saturday in Abuja.
"Let me remind you that admission is but a first step, a starting point. What really matters is what you do with the opportunity before you. The university will provide you with knowledge, skills, mentorship and an enabling environment. But excellence will ultimately depend on your commitment, character and choice," Ibezim stated.
Nicolas Ukachukwu, Chancellor of European University Abuja, disclosed that the initiative would drive specialised research work across key disciplines, explaining that the fund would enable the university to conduct research capable of addressing real life challenges in medicine, technology, and other critical sectors.
He revealed that by the time the newly admitted students graduate in approximately five years, the university would have evolved into a recognised research hub in Nigeria.
"We set up this university to be a centre for research, and the ₦50 billion endowment fund will be for special categories of research and particular special disciplines. So, we're going to now be able to research things that actually can help on the technical side, on the medical side, on other areas where you can take a particular study, a particular case from zero to the end," Ukachukwu stated.
The chancellor explained that breakthroughs, particularly in medicine, require a long process from discovery to clinical trials and eventual drug development, noting that such work demands specialised expertise, equipment, and facilities.
"Like medicine, you know, there's a journey from the time you discover it to the time you take it to clinical tests, to the time when we will not take it to admittance, and it becomes a drug you can be able to put in the market. It takes a lot, and it requires a special skill and centre and equipment to make it happen, and then that's what we want to achieve here in different disciplines," he added.
Ukachukwu assured investors that the initiative would be sustainable and profitable, emphasising his business background.
"I can't call people, including myself, for us to put down together ₦50 billion there. I'm a businessman, so whatever business I start, I take it to the point of profitability," the chancellor assured.
