The Vice Chancellor, Bamidele Olumilua University of Education, Science And Technology, Ikere-Ekiti, BOUESTI, Ekiti State, Prof. Olufemi Adeoluwa has said that the new state institution is currently facing huge indebtedness and infrastructural deficit.
Specifically, the VC hinted that the new University is indebted to the tune of N3 billion.
Speaking at the pre maiden Convocation Press Conference ,Professor Adeoluwa said the University has not received either capital grant or take-off grant from the state government since inception.
Adeoluwa, pointed out that for the University to run to its full capacity every month, they need N500 million to run successfully, saying the wage bill of the institution every month is N430 million.
The VC lamented that the University is now left at the mercy of TETFund for physical development.
Prof. Adeoluwa said the week long convocation programme will climax on Saturday with award of degrees, conferment of honorary doctorate degree of the University to some important personalities which includes the traditional ruler of the town, the Ogoga of Ikere-Ekiti, Oba Adejimi Adu, the Governor of Enugu State, Barrister Peter U. Mbah, Sen. Sani M. Musa, and Dr. Tunji Olowolafa, the Pro-Chancellor of Ekiti State University, EKSU.
The convocation lecture will be delivered by Prof. Akinjide Osuntokun, Emeritus Professor of History on Saturday.
He disclosed that 38 students would be graduating with First Class, 425 Second Class Upper, 586 Second Class Lower and 60 in third Class, out of the 1,109 students graduating, for a four year course.
According to him, the University was established on 16th October, 2020, by former Governor Kayode Fayemi vide a Law No. 22 of 2020 and amended Law No 23 of 2020 and the subsequent issuance of Certificate of Recognition by the National Universities Commission, NUC, as the 47th State and 171st University in Nigeria.
“The pioneer students of BOUESTI were 2,400 who resumes into forty-five, 45, programmes of the University while the students enrolment into the University has increased tremendously and as at now, they are more than 18,000 students in the University”.
He said the challenges facing the University included many of the buildings are old and dilapidated, some of them need outright re-roofing, lack of funding, as the monthly subvention from the state government is grossly inadequate for the University because the University has a lot of debts to pay and old physical structures to maintain, adding that.
The V.C commended the Chancellor, Chief Wole Olanipekun, SAN, for his great commitment to the vision of the University and continued philanthropic gestures which culminated in the donation of the state-of-the-art art Wole Olanipekun Senate Building to the University.
He also, commended the Ekiti State Governor, Mr. Biodun Oyebanji for the addition of N100 million to its monthly subvention and many intervention to the institution.
The Vice Chancellor called on the students to register for NELFUND, loan, saying a little above 500 students are currently on the loan scheme but out of over 13,000 who applied, but did not register .
