Section 1: Incorporation and objects of the University

(1) There is hereby established a University to be known as the University of Lagos (in this Act referred to as "the University") to provide courses of instruction and learning in the faculties of arts, law, medicine, science, education, commerce and business administration, engineering, and any other faculties which may, from time to time, be approved under this Act.
(2) The University shall be a body corporate and shall have perpetual succession and a common seal.
(3) The objects of the university shall be-
(a) to encourage the advancement of learning and to hold out to all persons without distinction of race, creed, sex or political conviction the opportunity of acquiring a higher education;
(b) to provide courses of instruction and other facilities for the pursuit of learning in all its branches, and to make those facilities available on proper terms to such persons as are equipped to benefit from them;
(c) to encourage, promote and conduct research in all fields of learning and human endeavour; and
(d) to undertake any other activities appropriate for a university of the highest standard.