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.
He spoke during a press briefing held at the university’s campus in Ikere-Ekiti, the headquarters of Ikere local Government Area of the state to herald the maiden 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.
Adeoluwa said that over N3 billion debt the university inherited from the defunct College of Education including the staff gratuities has been difficult to defray due to lack of financial resources.
He further said that honorary doctorate degrees would be conferred on Enugu State Governor, Peter Mbah, the Ogoga of Ikere, Oba Adejimi Adu, the lawmaker representing Niger East Senatorial District, Sani Musa and the Chancellor of Ekiti State University, Ado-Ekiti (EKSU), Tunji Olowolafe.
The VC explained that the convocation ceremony slated for March 8, 2025 would be a significant milestone in the institution’s history since its creation by the administration of former governor, Dr Kayode Fayemi in 2020.
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He revealed that no fewer than 1,109 students would be graduating at the maiden convocation across five colleges with 38 with First Class, 425 in Second Class Upper,586 in Second Class Lower and 60 in Third class.
According to him, a former Nigeria’s ambassador to Germany and emeritus professor of History, Professor Akinjide Osuntokun would deliver convocation lecture.
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.
He commended the state governor, Biodun Oyebanji and the chancellor, Chief Wole Olanipekun for their commitment and support to the development of the university, saying that the increase in the subventions by the governor has helped the institution to fulfill its responsibilities.
He said, “Our institution has a rich history, founded on the principles of academic excellence , innovation and community service. Our mission is to generate, disseminate,advance knowledge and groom students in education, science and technology with the aim of bringing this knowledge to finding solutions to the major challenges facing our immediate society and the world’s challenges in the 21st
“As we stand on the threshold of this momentous occasion, I am filled with a sense of pride , gratitude and hope. Pride in the achievement of our students, gratitude for the support of our partners.
“We reaffirm our commitment to academic excellence, innovation and community service, we pledge to continue providing a world-class education that empowers our students to become leaders and responsible citizens”, he added.
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