Six Ogun State-owned tertiary institutions have generated over N7,869 billion in revenue in the first six months of 2021. This forms part of their revenue projections contained in the 2021 budget.
The Vice-Chancellor of Olabisi Onabanjo University Ago-Iwoye, Prof Ganiu Olatunde, said the school generated over N3.4billion which represents 40 per cent out of its over N7.8billion revenue projection.
Prof Olatunde who was represented by the Deputy Vice-Chancellor (Academics), Prof Deji Agboola, disclosed this during the budget performance presentation of the institutions before the members of the State House of Assembly Committee on Education, Science and Technology which held on Monday and Tuesday.
He explained that the revenue was received from different sources including school fees, acceptance and subvention amongst others while assuring students, who have issues in reconciling their payments with the school in the course of their registration process that such issues were being sorted out with the service providers.
In the same vein, the Moshood Abiola Polytechnic, Abeokuta (MAPOLY) stated that it generated over N754million revenue between the same period out of over N1.8billion approved budget target for the period.
The Acting Rector of the institution, Dr Adeoye Odedeji, added that the management also reconstructed the JAMB CBT centre as proposed in the budget.
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The House Committee lauded the management team of the Gateway ICT Polytechnic, Saapade for high performance in revenue generation, as it generated over N799m representing over 95 per cent performance within six months, out of N835m revenue target for the period.
Other institutions that presented their budget performance before the lawmakers include Tai Solarin University of Education (TASUED) which recorded N2.53billion of its N4.299bn, Abraham Adesanya ICT Institute, Ijebu-Igbo which generated over N413.6m out of its N708m target and Gateway Petro-Gas Institute recorded N31.7m revenue representing 41.32 per cent of its revenue target within the same period.
The House Committee commended the management of the State Institute of Technology, Igbesa for being the only state-owned institution that won the JAMB merit award as the most compliant institution. It also commended the school for adhering to the principles of standard financial accounting in all its record books.
Others who presented their budget performance before the lawmakers included the D.S Adegbenro Polytechnic, Itori and the State Library Board.
Meanwhile, the Ogun State Teaching Service Commission (TESCOM) said it has paid over N9.5bn as salaries to teaching and non-teaching staff of the commission within the last six months.
Commission Chairman, Evang. Olalekan Ifede disclosed that the commission had inducted 241 principals and 186 vice principals alongside 10 zonal secretaries within the period under review.
Speaking during the presentation, the House Committee Chairman, Hon. Ademuyiwa advised the management of TESCOM and MAPOLY to avoid overshooting their budget heads, cautioning that spending outside the approved budget was contrary to the appropriation act.
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