BOUESTI VC Pleads With Ekiti Governor to Increase Subvention To N500 Million

 … Says Defunct College Still Heavily Indebted

By Oluronke Kuku

The Vice Chancellor of Bamidele Olumilua University of Science and Technology (BOUESTI), Ikere-Ekiti, Prof. Olufemi Adeoluwa, has pleaded with the  Ekiti State Governor to increase the monthly subvention to the institution, from the current N275 million to N500 million, explaining that the defunct College of Education is still heavily indebted. 

The BOEUSTI Vice Chancellor, Professor Victor Adeoluwa dropped the hint on Monday while addressing the press to begin the activities for the first Convocation Ceremony of the Institution at the new administrative building.

Professor Adeoluwa revealed that despite the University receives a sum of sum of N275 million as monthly subvention, it is still grossly inadequate to cover the expenses of the institution which includes the payment of the staff salaries and debt repayment. 

The Vice Chancellor lamented that the university has been grappling with debts incurred during its previous existence as the College of Education, Ikere-Ekiti.

He is however seeking an increase in subvention to N500 million to enable the university settle its outstanding debts, maintain its physical structures, and meet other needs of the institution.

He used the opportunity to commend the Governor of Ekiti State, Mr Biodun Abayomi Oyebanji for demonstrating his commitment to education and economic development of the State.