FIC Report (Lagos State) – The Federal Government has officially approved a groundbreaking concession agreement granting management rights of King’s College, Lagos, to the King’s College Old Boys’ Association (KCOBA). Announcing the development at a press conference at the Metropolitan Club in Victoria Island, KCOBA President, Alhaji Kashim Ibrahim-Imam, described the transfer as a pivotal moment in the institution’s 116-year history. He emphasized that the agreement does not constitute a sale or privatization, but rather an innovative public-private governance framework designed to rehabilitate, modernize, and sustain the prestigious institution through a collaborative partnership with the state.
Addressing immediate public concerns regarding accessibility, the alumni association stressed that the institutional transition will not alter the secondary school’s founding mission or diversity. The college will strictly maintain its traditional federal character, ensuring admissions remain open to students from all socio-economic, ethnic, and religious backgrounds across Nigeria. To guarantee that the cost of this institutional overhaul does not translate into a financial burden for parents, the association has launched a historic ₦100 billion collegium fund, designed to insulate regular families from increased educational fees while funding extensive structural upgrades.
The ambitious modernization blueprint is anchored on a comprehensive seven-pillar strategy targeting infrastructure renewal, digital transformation, and governance reforms. KCOBA plans to fully rehabilitate the campus architecture, including laboratories, hostels, libraries, and sports complexes, while introducing advanced educational technologies such as artificial intelligence-assisted learning, robotics hubs, coding programs, and campus-wide broadband connectivity. Structurally, the newly established King’s College Education Trust will oversee long-term administrative operations, led by elder statesman Alhaji Femi Okunnu, SAN, as President of the college, and prominent businessman Sunny Kuku as Vice President.
Financial backing for the massive undertaking has already seen substantial commitments from high-profile stakeholders. The ₦100 billion fund will be chaired by the Emir of Kano, Muhammadu Sanusi II, with economist and businessman Atedo Peterside serving as Vice Chairman, alongside key participation from former Senate President Dr. Bukola Saraki. Demonstrating immediate financial momentum, Ibrahim-Imam announced a personal donation of ₦1 billion, complemented by ₦100 million contributions each from Alhaji Okunnu and Chief Philip Asiodu. The association has called upon corporate organizations, global development partners, and the school’s international alumni network to contribute resources, mentorship, and expertise toward securing the institution’s future legacy.
Gloria Dawodu
CI&PRO
7th July, 2026 .
