Former Vice President, Prof. Yemi Osinbajo, SAN, has expressed concern over the declining state of education in Nigeria, warning that the nation is “paying a steep price” for years of neglect that have left many schools dilapidated and poorly funded.

Osinbajo stressed that strong foundational education is critical to producing responsible and ethical leaders for the future. He made the remarks while delivering a lecture titled “Building Generational Strength for Educational Institutions in Nigeria” at the 94th Founders’ Day celebration of Igbobi College, Lagos, on Monday.

Drawing from personal experience, the former vice president recalled the discipline of his secondary school days, noting that routines such as early morning wake-up times and strict boarding rules played a key role in shaping leadership qualities.

“The values and habits that define adults are formed in school; they are not developed later in life,” he said, adding that by the age of 18, a child’s moral compass is largely established.

Osinbajo argued that leadership development begins long before individuals assume public office and urged stakeholders beyond government to take responsibility for reviving the education sector. He said corporate organisations, alumni associations and well-meaning individuals must support schools through sustainable funding models.

According to him, many enduring institutions across the world thrive because of strong endowments that preserve shared values and standards over generations. He noted that such funds are often driven by contributions from alumni, their families and associates.

Reflecting on Igbobi College’s history, Osinbajo explained that the school itself was founded on missionary endowments from Anglican and Methodist churches, which helped subsidise quality education while instilling strong moral and civic values.

Recalling his time at the school between 1969 and 1975, he highlighted several academic distinctions he earned, including the State Merit Award and the African Statesman Intercollegiate Best Speaker’s Prize.

He concluded by stressing that investment in education is ultimately an investment in national development, noting that Nigeria’s early leaders were products of institutions shielded from instability and neglect.

Meanwhile, the Igbobi College Old Boys’ Association (ICOBA) has unveiled a ₦10 billion Endowment Fund aimed at repositioning the school and securing its future for the next 100 years.

Announcing the initiative, ICOBA President, Chief Yomi Badejo-Okusanya, said the fund would support the construction of new hostels, the upgrade of science laboratories and the adoption of modern learning technologies. He added that Chapel Hill Denham would professionally manage the fund to ensure transparency and accountability.

Badejo-Okusanya called on alumni to contribute generously, urging them to emulate the foresight of the school’s founders in 1932.

Also speaking at the event, Lagos State Governor, Mr Babajide Sanwo-Olu, represented by the Commissioner for Basic and Secondary Education, Hon. Jamiu Tolani Alli-Balogun, pledged government support for initiatives that strengthen educational institutions.

He noted that schools like Igbobi College help reduce social challenges by producing disciplined citizens and capable leaders, adding that the success of infrastructure and governance ultimately depends on principled leadership.

The lecture was chaired by Mr Ademola Adeyemi-Bero, who described endowments as a shift from short-term interventions to long-term institutional sustainability.