The Lagos State University (LASU) has come under fire on social media after announcing its foray into bread production business.
On Wednesday, the Lagos State University (LASU) announced that the school authorities would ban sale of bread in the school premises to give way for the bread brand owned by the school.
This was disclosed in a post published on LASU’s social media account on Twitter. The school revealed that it had established a bakery business.
The varsity said the initiative was part of efforts by Ibiyemi Olatunji-Bello, the vice-chancellor, to increase the institution’s internally generated revenue (IGR).
“Accolades for the VC, Prof. Ibiyemi Olatunji-Bello, mni, as LASU Bakery opens for business. The bakery is part of her administration’s drive to increase IGR. The LASU Bread will henceforth be the only bread on the university main campus, Ojo,” the tweet reads.
The post has, however, provoked a wave of mixed reactions on the micro-blogging platform.
While some users lauded the initiative, a section of the users argued that the institution should focus on research and getting grants to support its operations.
Some users also called out the varsity over alleged monopoly, adding that other brands of bread should be allowed within the institution.
The Executive Vice Chairman, Federal Competition & Consumer Protection Commission (FCCPC), Babatunde Irukera, said LASU’s decision is a violation of competition law in Nigeria.
Irukera said on Twitter that it was an offense to limit competition under the laws that formed FCCPA, “I am afraid this presents a potential violation of competiton law.
“Under the FCCPA, it’s an offense to limit competition in this manner, LASU is not exempted because govts are also subject when they engage in commerce.
“I assume this statement doesn’t convey what it says.
I am afraid this presents a potential violation of competiton law. Under the FCCPA, it’s an offense to to limit competition in this manner, LASU is not exempted because govts are also subject when they engage in commerce. I assume this statement doesn’t convey what it says.
— Babatunde Irukera (@TundeIrukera) March 29, 2023
Here’s what others have to say:
You know you are in trouble if the means of increasing IGR in a tertiary institution is selling bread, bread o, not grants for researches o nothing, bread
— 👑 Olumicome 👑 (@AbefeAdee) March 29, 2023
While I recognize the need for universities to raise IGR, I’m not sure enterprises like bread making by an academic institution resonates well with me. Couldn’t there be academic exercises/consultancies that can raise revenue? All these pure water, bread making ventures, 🤷♀️
— Temitope (@Temitope_AA) March 29, 2023
Uiversities are partnering with Adobe and Microsoft so that students can access learning tools with their university emails to advance learning and meet basic requirements to integrate into the global economy but no worries, let us eat bread. Malt & fruit one dey?
— Leah (@LeahRazor) March 29, 2023