Administrators Gain Insights on Multiple Pathways to Financial Independence as ANUPA-UNILAG Holds Public Discourse

The University of Lagos (UNILAG) chapter of the Association of Nigerian University Professional Administrators (ANUPA) has held a professional discourse on Tuesday, May 7, 2024.

Inside the hallowed Senate Chamber, 2^nd Floor of the Senate House, the hybrid event had in attendance administrators across all levels including Ag. Registrar, Mrs. Olakunle E. Makinde, FISN; the College Secretary, College of Medicine, Dr. Olayinka Obafemi Moses FNIM, former Registrar, Dr (Mrs.) Taiwo Folasade T. Ipaye, FNIM who joined virtually. There were also delegates from Tai Solarin University of Education, Ijagun.

The occasion also offered an opportunity for the leadership of the Association to the induct new members and honour some senior members of the administrative cadre within the University who recently got elevated to the level of Directors including Mrs. Olakunle E. Makinde, Barrister Yetunde Ogunlewe, Mr. Michael Uwakwe, and Mrs. Aderonke Josephine Asiwaju.

With the theme “Financial Independence: Unlocking Multiple Streams of Income in Challenging Times“, the well-attended and interactive session featured two expert speakers: a Senior Lecturer at the Department of Economics, Dr. Ayodele Ibrahim Shittu and Principal Assistant Registrar/Faculty Officer, Social Sciences, Mr. Temidayo Akeju. Participants had an opportunity to ask questions and engage the speakers.

Dr. Shittu delivered an insightful presentation on the importance of diversifying income streams, investing in various assets, and developing a long-term financial plan to achieve financial independence. His presentation focused on the importance of being prepared for the future in the wake of current economic realities.

His words, “It is important to pursue other income avenues to satisfy rising needs, there is a need to take action because having multiple streams of income has proven to be priceless. Administrators must learn to think outside the box. In today’s world, there are numerous things or businesses to choose from and undertake to reach financial goals.”

Stating the current economic situation, he argued that it calls for a drastic approach towards guaranteeing survival and went further to enlist alternatives in chasing financial independence combined with their current jobs to include knowing oneself by Identifying one’s strengths, noting it is the foundation for choosing the right path, Market Intel – that helps align one’s strengths and interests, being able to craft a detailed business plan. Other options he gave are exploring personal savings, loans, or potential investors and investing in acquiring additional skills to boost one’s value among others.

On his part, Mr. Akeju who spoke on the topic: Role of Faculty Officers within the University, enumerated the role and responsibilities of Faculty Officers. His presentation underscored the important role of Faculty Officers as they wear different caps to fulfill the responsibilities of their position.

In a no-holds-barred presentation, Mr. Akeju dedicated the session to sensitizing administrators about imbibing the right attitude despite the tedious tasks. He also shared practical strategies for navigating the schedule of a faculty officer.

Earlier, the Acting Chairman of the Association, Mr. Olakunle Babatunde appreciated the administrative leadership of the institution at both Akoka and Idi-Araba campuses for allowing intellectual discussions such as the ANUPA Public Discourse. He enumerated the importance of the public discourse as a viable avenue to build the capacity of the institution’s workforce.

His words, “As professionals, we are all too familiar with the challenges of our current economic landscape so relying on a salary or daily business income alone is a danger at this time. In an environment where job loss and unemployment are chronic, the decision to create multiple streams of income and secure financial stability is expedient.”

Similarly, in her remarks, the Acting Registrar of the University, Mrs. Makinde described the event as timely and thanked the leadership of ANUPA for hosting the discourse. Her words, “.., with rising costs, uncertainty, and financial stress that have become the new normal, it is expedient in these challenging times that administrators think creatively, adapt, and innovate to achieve financial independence”.

“We have listened to experts who have shared their insights and expertise on how to unlock multiple streams of income, diversify our financial portfolios, and build resilience in the face of uncertainty. So I encourage you all to ask questions and put the lessons into practice for achieving financial independence. We must continue to put in efforts to ensuring that we are ready for whatever may come”.