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An entrepreneur Petroleum Geologist has called on relevant stakeholders to make the University of Ibadan an independent, self- funded institution saying that UI has so much untapped goodwill to free itself from government funding.

Dr. Olayiwola Francis Fatona, D.Sc University of Ibadan made this assertion as the Guest Lecturer at the maiden edition of the Faculty of Science Alumni Lecture in a lecture entitled “Science: The Heartbeat of Entrepreneurship, Innovation and Sustainable Development.

Dr. Fatona, who is a proud alumnus of the University of Ibadan from the Department of Geology, called on the University of Ibadan to exploit the abundant goodwill of its alumni.


“Let us sow a seed, and the seed I want to plant today is how can we get UI out of the government funding and subvention trail? I would like to see UI becoming an independent self funding institution,” he said.


Dr. Fatona is an Entrepreneur Petroleum Geologist with over forty-eight years of energy industry experience.


He graduated with a Bachelor of Science Degree in Geology from the University of Ibadan in 1973.
He obtained both the Masters of Science (1976) and Doctorate (1980) degrees in Petroleum Geology and Sedimentology from the Royal School of Mines, Imperial College of Science, Technology and Medicine University of London.

He was awarded the Honorary Doctor of Science Degrees (Honoris causa ) of both the University of Ibadan (2020) and University of Osun (2018) in recognition of his multiple entrepreneurship and inspiring contributions to the Nigerian oil and gas industry and the academia.

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He was the Founding Managing Director, Niger Delta Exploration and Production Plc Group and Vice -Chairman, ND Western Limited.