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Reflections on The Ambali Years

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By Olusegun Adeniyi

In this book, The Ambali Years, which I read for the first time last night after arriving Ilorin, even though it took me just about two hours to complete, Mr Kunle Akogun has done an important work. By documenting the impactful five-year tenure on this campus, of Professor AbdulGaniyu Ambali, he has provided a concise and enjoyable narrative that offers insights into the workings of one of the most sought-after offices within the academic community in Nigeria.

 

Right from the first chapter, the author transports the reader back in time, through the educational background of the distinguished professor, starting from his primary school days as a student of Pakata Primary School, Ilorin to the attainment of his doctorate degree in veterinary medicine from the University of Liverpool in England. The author also takes us on a brief detour of the work experience of the distinguished professor.

By dint of hard work, Professor Ambali, who started his career as an assistant lecturer in the department of veterinary medicine, University of Maiduguri rose to become a two-time dean of the same faculty, before transferring his services to the University of Ilorin where he subsequently became the vice chancellor.

However, given the position Akogun holds as the image maker of this University, it is no surprise that the account is more a narration than a reflection and that also implies that this effort can easily be dismissed as a public relations work. Yet that still does not take away the more important national conversation on higher education in Nigeria that the effort could trigger, in the context of the peculiar politics of the University of Ilorin.

The Book Reviewer, Olusegun Adeniyi , Chairman of THISDAY Editorial Board, at the public presentation of Mr Kunle Akogun’s book at the University of Ilorin on Friday 13TH October, 2017

This is the only federal university that has for almost two decades not been in the good books of the Academic Staff Union of Universities (ASUU). But the paradox is that it is essentially for that same reason that the institution has been able to protect its students from the hazards of incessant closure of campuses. And that has given University of Ilorin a competitive edge over other public-owned institutions of higher learning in Nigeria.

In his introduction, Akogun states that the idea for the book arose as a result of non-availability of any useful reference materials on the past administrators of the institution. Incidentally, that is not peculiar to the University of Ilorin or for that matter,the academic environment in our country as it is a general problem.

Indeed, it is almost a tradition in our country that people go into offices at the end of which they do not share their experiences. That is why this book is useful, even though Professor Ambali owes us his own personal account. And from the glimpses in this book, the distinguished professor sure has a compelling story to tell.

It is remarkable that an institution that started in October 1975 as an affiliate college of the University of Ibadan with just three faculties has today towered above most of its peers with 15 accredited faculties. And three of them, as recorded by Akogun in this book, were created under the stewardship of Professor Ambali. But while the author lists several notable accomplishments of the outgoing vice chancellor, the one that struck me the most is that by the time he assumed office about 3000 students were on-campus residents but today, there are about 8,000 on-campus students. That is a big leap for which Professor Ambali deserves accolades.

The author also chronicles other developmental projects of Professor Ambali, notably in the area of infrastructural developments, staff and students welfare, teaching and research etc. Those who worked with the professor were also given voice through published interviews though many of them were saying basically the same thing while a whole chapter was devoted to listing the laurels won by the outgoing vice chancellor.

The Author, Mr Kunle Akogun, the Head Corporate Communications Unit, University of Ilorin in a rapt discussion with the Book Reviewer, Mr Olusegun Adeniyi

The author also gives the reader a brief history of the University of Ilorin and provides information as to who held what positions and when.Even though the book could have dwelt a bit about the profiles of some of these men, the mere mention of their names it is still useful in a society where people easily forget.

The story of the University of Ilorin as captured by the author is also scanty. In a generation where enrolling for a four year course could translate into spending six or more years, this University has been an exception; and with that, it has maintained the first position as the most sought after federal University in Nigeria today.

As an aside, although I understand the position of the institution in its long-drawn battle with ASUU, especially given the insight provided by Professor Ambali in two of his interviews reproduced in this book, there are also those who argue that the University of Ilorin is allowed to eat its cake and at the same time have it since it benefits from the fallouts of the agitations by which other campuses suffer. But that is not an issue for today; in any case, Akogun’s book, which is largely celebratory, is very silent on such controversial issues.

While celebrating the achievements of the outgoing Vice Chancellor, the author also draws attention to the challenges he faced as a man who wants things to be done the right way. And there are several photographs in the publication even though some of them can be described as pointless.

Meanwhile, I agree with the author that a body of work that details the achievements of an administrator of this great school would serve as a reference point for those who run other universities and “create an information data bank that would preserve for posterity the numerous legacies of the administration of this erudite Professor of Veterinary Medicine”.

What enriches the collection and provides a window into understanding the distinguished professor and his choices are the republished interviews and excerpts from some of his speeches, including the maiden one he gave on assumption of office in 2012.

In all, while I commend the author for the effort, I must nonetheless say that I am disappointed on several fronts. For someone who worked at THISDAY where we place premium on both content and visuals, I believe Akogun could have done a better job. Since I am aware that this book was rushed, I understand whyit didn’t benefit from any serious editing assuming there was one but at least the layout and the entire production could have been better.

However, let me say very quickly that the only reason I came here today is because I know the author very well not only as a thoroughbred professional but also as a fantastic human being. Akogun worked with me at THISDAY and I found him very dependable and that accounted for why when he called to enquire whether I would review his book, I did not hesitate in saying Yes, even when it is a big sacrifice for me to come to Ilorin to practically spend three days because of flight connections. And despite the fact that I only read the book on arrival in Ilorin last night, I can attest to the fact that one can still see glimpses of Akogun’s rich experience in journalism, although it is also clear that my brother and friend is now an establishment journalist. I should know, since I have also been there in another life.

On the whole, I will still commend the author forThe Ambali Years (A chronicle of the Landmark Achievements of Prof. AbdulGaniyu Ambali -2012 to 2017). Itis a bookI will gladly recommend to those who may want to appreciate the efforts of Prof Ambali as well as those who seek a better understanding of the challenges of University administration in Nigeria.

 

Thank you very much for listening and good afternoon

  • Being a text of a review by Olusegun Adeniyi , Chairman of THISDAY Editorial Board, at the public presentation of Mr Kunle Akogun’s book at the University of Ilorin on Friday 13TH October, 2017

 

   

About author
Time Nigeria is a modern and general interest Magazine with its Headquarters in Abuja. The Magazine has a remarkable difference in editorial philosophy and goals, it adheres strictly to the ethics of Journalism by using the finest ethos of the profession to promote peace among citizens; identifying and harnessing the nation’s vast resources; celebrating achievements of government agencies, individuals, groups and corporate organizations and above all, repositioning Nigeria for the needed growth and development. Time Nigeria gives emphasis to places and issues that have not been given adequate attention by others. The Magazine is national in outlook and is currently being read and patronized both in print and on our vibrant and active online platform (www.timenigeria.com).
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The Missing Middle of Infrastructure Finance: Why Capital Still Fails to Become Infrastructure

6 Mins read
  By Chidi Nwafor  In October 2023, a Gulf sovereign wealth fund quietly closed a $2 billion allocation to global infrastructure, earmarked in part for emerging-market energy and transport assets. The announcement drew the usual applause: another sign, commentators said, that institutional capital was finally waking up to the infrastructure opportunity in the Global South. Eighteen months later, less than a tenth of that allocation had actually left the fund’s balance sheet. Not because the mandate had changed. Not because the fund had lost appetite. According to two people familiar with the portfolio, the constraint was simpler and more uncomfortable: there were not enough investable projects to put the money into. This is not a story about a reluctant investor. It is a story about capital that wants to move, cannot find enough places willing and able to receive it in a form it can underwrite, and quietly waits instead. Multiply that fund by the hundreds of pension schemes, sovereign wealth vehicles, commercial banks and infrastructure funds now carrying dedicated allocations for emerging-market infrastructure, and a pattern emerges that rarely makes it into a headline: the world is not short of capital for infrastructure. It has capital in historic abundance, sitting adjacent to a historic infrastructure gap, unable to cross the distance between the two. The Comfortable Explanation  The explanation on offer at every major infrastructure summit is a familiar one. Global infrastructure investment needs run into the tens of trillions of dollars over the coming decade; committed capital falls well short; therefore, the problem is one of insufficient funding, and the solution is more of it: more pledges, more blended-finance facilities, more climate funds, more multilateral capital increases. It is a comfortable explanation because it assigns responsibility clearly to governments who under-fund, institutions who under-commit, and it offers a clean remedy: raise more. It is also, on close inspection, not what the evidence shows. Pension funds globally hold trillions in assets under management with explicit infrastructure allocations that remain structurally underweight, not because trustees have rejected the asset class but because deal flow meeting their risk and governance thresholds has not materialised at the pace their mandates assume. Sovereign wealth funds report the same pattern. Commercial banks with dedicated project finance desks describe pipelines that look full at the term-sheet stage and thin dramatically by financial close. Development finance institutions, whose entire purpose is to absorb risk that commercial capital will not, routinely report that their binding constraint is not capital adequacy but the volume of bankable transactions their teams can originate and structure in a given year. None of this fits the scarcity narrative. All of it fits a different one. Availability Is Not Deployability  Capital availability and capital deployability are not the same condition, and the conflation of the two is doing real damage to how the world thinks about the infrastructure gap. Availability asks whether money exists somewhere with a mandate that could, in principle, be pointed at infrastructure. Deployability asks something much narrower and much harder: whether a specific project, at a specific moment, has been engineered, structured, documented and de-risked to the point where an investment committee can approve it without exception. The first condition is met, overwhelmingly, across nearly every category of capital that matters to infrastructure. The second is met by only a small fraction of the projects competing for it. The result is a market that looks, from the outside, like a financing gap, and functions, from the inside, like a conversion problem: an abundance of capital on one side, an abundance of infrastructure need on the other, and an underbuilt set of mechanisms in between capable of turning one into the other at any meaningful scale. Where the Conversion Breaks  The break does not happen at the ends of the process. It happens in the middle, in the unglamorous sequence of work that turns a plausible concept into an instrument a fiduciary can sign. A promising transmission project needs a feasibility study rigorous enough to survive institutional scrutiny rather than optimistic enough to attract early interest. It needs offtake arrangements that hold up under real counterparty and currency risk, not the counterparty risk assumed in a base case. It needs environmental and social documentation calibrated to the standards of the institutions being asked to fund it, not the standards of the jurisdiction hosting it. It needs a legal and commercial structure that allocates risk in ways a commercial lender, not only a development financier, will accept. It needs a sponsor capable of executing what has been proposed, not merely capable of proposing it. Each of these is ordinary project finance discipline. None of it is exotic, and in mature infrastructure markets it happens as a matter of course, absorbed into systems built over decades: specialist advisers, standard-form contracts, established procurement norms, deep pools of transaction expertise. What is missing in the markets where the infrastructure gap is largest is not the standard itself but the machinery that meets it. Projects arrive at investment committees with ambition intact and preparation incomplete, and that gap is treated, again and again, as an individual project’s failure rather than what it actually is: a structural absence in the systems responsible for producing investable transactions at scale. The Missing Middle  This is the Missing Middle of Infrastructure Finance: the institutional architecture that sits between capital that wants to move and infrastructure that needs building, and whose incompleteness explains far more of the global infrastructure gap than any shortfall in committed funds. It consists of project preparation facilities able to fund feasibility and structuring work before commercial viability has been proven. Transaction advisers capable of building deals that satisfy development mandates and commercial return thresholds at once, rather than treating the two as separate constituencies to be managed sequentially. Risk-sharing and guarantee instruments that convert political, regulatory and currency risk into something a commercial balance sheet can underwrite. Aggregation platforms that bundle smaller, individually sub-scale projects into portfolios large enough to justify institutional transaction costs. Standardised documentation that reduces the bespoke legal cost of every new deal. And coordination across ministries, regulators and financiers robust enough that a technically sound project does not die in bureaucratic sequencing after the money has already been found. None of these are new ideas in isolation. What is missing is their assembly into a coherent system, deliberately funded and institutionally accountable, rather than scattered across donor-funded pilots that end when the grant does. The African Dimension  Africa makes this dynamic unusually visible, and consequently offers an unusually clear opportunity to correct it. The continent’s infrastructure financing need, by any measure, is vast. Less understood is that the shortfall is disproportionately one of preparation rather than capital. Nigerian gas-to-power, off-grid solar and mini-grid developers have each demonstrated that individual projects can clear the bankability bar; what has not emerged is systemic pipeline scale, a steady stream of comparably prepared projects large enough to absorb the capital already circling the sector. The pattern repeats, with local variation, from grid infrastructure in East Africa to transport corridors in West Africa. Interested capital is rarely the scarce input. Investment-ready projects are. The Global Comparison  Mature markets solved this problem gradually and mostly invisibly, through decades of institution-building that predates the current infrastructure conversation: specialist project finance units inside banks, standardised PPP frameworks, established regulatory playbooks, deep benches of transaction lawyers and engineers who move between deals rather than between one-off assignments. Emerging and frontier markets are not being asked to meet a lower standard. They are being asked to meet the same standard without having built the same machinery, and then being told, when deals fail to close, that the problem is insufficient funding….
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