The acting vice-chancellor of the Adeyemi Federal University of Education (AFUED), Ondo, Samuel Akintunde, has disclosed that the institution spends N26 million on electricity monthly.
Mr Akintunde said on Monday that the money was aside from the huge fund the institution spends weekly on diesel to power the generator.
“We paid about N26 million for electricity, that is aside from the amount we expend on the monthly basis on diesel,” Mr Akintunde said while addressing reporters ahead of the institution’s 61st Foundation Day and 35th Convocation Ceremony.
He added, “We are using 5,000 litres of diesel within two weeks, so we have the problem of funding.”
According to him, the university had been facing financial difficulties with the low enrolments of students into the institution despite striving to provide other crucial needs.
The VC noted that the school would address the huge cost by exploring other alternative sources of power for the development and growth of the federal institution.
Noting that the institution had always remained a leading institution in teacher education, academic research, and community development, the acting VC disclosed that 995 students of the institution are set to benefit from the National Education Loan Fund (NELFUND) initiative introduced by President Bola Ahmed Tinubu’s federal government.
“So, 995 students have applied, and they are expecting N68,316,200, but this does not include their monthly stipend of N20,000,” he said.
Speaking ahead of the convocation ceremony, Mr Akintunde revealed that the institution would be convocating six graduates starting from the 2017/2018 academic session.
