OYO state government has increased the monthly subvention paid to tertiary institutions in the state.
Revealing this on Saturday, in Ibadan, the state commissioner for Education, Science and Technology, Prof. Adeniyi Olowofela said the state government has been magnanimous enough to increase the monthly subvention of all state owned tertiary institutions so as to boost easy running of these institutions.
Also, he stressed that this increment would assist the state-owned institutions to fix some of its needs.
Speaking further, the ex-council boss, Olowofela summarily analysed as follows: “as from June, the monthly subvention of the Polytechnic Ibadan will be N83,701,442 as against N51,850,721, Oke-Ogun Polytechnic, Saki will receive N27,557,507 instead of N12,778,753.60, while the Ibarapa Polytechnic, Eruwa will be collecting N27, 907,151.46k instead of N12,453, 575.73k.
“Also, Emmanuel Alayande College of Education, Oyo will receive N101,089,091.61k against previous N55,544,545.82k, the College of Education, Lanlate will receive N40,291,138.54k instead of N12,145,569.27k, and Oyo State College of Agriculture and Technology, Igbo-ora will be collecting N43,090,139.06k as against N17,045,069.58k. The variance in the increase is due to the peculiarity of each institution”, he explained.
The commissioner added that the government is doing its best to help cushion the financial implication of running these tertiary institutions, stressing that under the law, state government shouldn’t shoulder all the financial responsibilities of these institutions, but support them financially since tuition fees are being collected by the institutions.
