N275m monthly subventions inadequate for varsity operations, says VC

• Laments lack of take-off grant, N3b inherited debt
• Confers honorary degrees on Enugu governor, others

The Vice Chancellor of Bamidele Olumilua University of Education, Science and Technology, Ikere-Ekiti (BOUESTI), Prof. Olufemi Adeoluwa, has declared that the N275 million monthly subventions from Ekiti State Government are grossly inadequate for the running of the institution.

The VC said that due to the current economic reality in the country, the BOUESTI needs N500 million to pay its staff whose wage bill stands at N430 million monthly.

Adeoluwa spoke, yesterday, during a pre-convocation media briefing held at the university’s campus to herald the first convocation ceremony of the institution.

According to him, the university has not received either capital or take-off grants from the state government for about five years of its existence, adding that the institution is left at the mercy of the Tertiary Education Trust Fund (TETFund) for physical infrastructure. The VC said that over N3 billion debt the university inherited from the defunct College of Education is difficult to defray.

Adeoluwa further said that honorary doctorate degrees would be conferred on personalities that include lawmaker representing Niger East Senatorial District, Sani Musa; Enugu State Governor, Peter Mbah; the Ogoga of Ikere-Ekiti, Oba Adejimi Adu, and the Chancellor of Ekiti State University, Ado-Ekiti (EKSU), Tunji Olowolafe.

He said that the university, since inception, had been able to record many achievements and attract several interventions, as well as, ranked 26th by the Times Higher Education Ranking 2023.