Poor funding threatens university education

The Vice Chancellor, University of Ibadan, Professor Idowu Olayinka, has said that paucity of funds is a major impediment to the success of university education.

Olayinka funding has said made poor the university to increase some levies paid by students.

The vice chancellor stated this in his address at the weekend to the university congregation where he said insufficient money from the Federal Government has made it difficult to recruit permanent staff required for its core academic activities.

According to the VC, while the university spends over N80 million monthly on payment of electricity bills, purchase of diesel, water, cleaning, office expenses, repairs and maintenance, running of offices, among several others, the amount received from the Federal Government was about N8 million monthly forcing the university to select only about four of the services.

The VC also stated that the policy of Treasury Single Account has affected the internally generated revenue of the institution which used to accrue to it from fixed deposits.

“Since my appointment two and a half years ago, the major challenge I have had to face is that of funding. The university management has been managing the limited resources available, and has had to make some painful but important decisions such as the recent increase in some levies paid by students.”