BOUESTI VC Says Varsity is Grosly Underfunded, Demands N500m Monthly Subvention

Gbenga Sodeinde in Ado Ekiti

The Vice-Chancellor of Bamidele Olomilua University of Education, Science and Technology, Ikere-Ekiti (BOUESTI), Professor Olufemi Adeoluwa, has bemoaned the poor funding of the institution, saying that the university has not received either capital grant or take-off grant from the state government since it was established.
The state-owned university was established in October 16, 2020 by former Governor Kayode Fayemi.
He lamented that monthly Subvention from the state government is grossly inadequate because the university has a lot of debts to pay and old physical structures to maintain.
The vice-chancellor, who stated this in Ikere-Ekiti during a press conference ahead of the university’s maiden convocation ceremony, slated for March 8, 2025, disclosed that because the university has not received any grant from the government, it is left at the mercy of TETFund for physical development.
While urging the state government to increase the university’s monthly subvention to ₦500 million, Adeoluwa also called on the state government to commence the payment of the capital grant, emphasizing that such funding would enhance the quality of education provided by the university rather than relying solely on TETFund interventions.
He disclosed that the current subvention of N275 million is grossly inadequate to clear the university’s debts and undertake necessary infrastructural projects.
“Truth be told, Governor Biodun Oyebanji increased the subvention by N100 million in early 2024, which totalled to around N275.8 million, but things are not the same again.
“We need the increment to meet up with the economic realities of the country.
“Many of the buildings in the university are old and dilapidated and some of them need outfit re-roofing. So, if the government can increase it to around N500 million, we will appreciate,” he said.
Giving the statistics of the graduates, Adeoluwa said the university would graduate 38 first class students; 425 second class upper division; 586 second class lower; and 60 third class, out of the overall 1,109 graduating students.

He said that the graduating students consist of 172 students of College of Education, 392 of College of Science, 499 of College of Social and Management Sciences and 46 of the College of Technology.
The VC added that honorary doctorate degrees would be conferred on four personalities which include the lawmaker representing Niger East Senatorial District, Sani Musa, the Governor of Enugu State, Peter Mbah.
Others are the Ogoga of Ikere-Ekiti, Oba Adejimi Alagbado and the Chancellor of Ekiti State University, Ado-Ekiti (EKSU), Tunji Olowolafe.
He thanked Governor Oyebanji for his unwavering support and commitment to the growth of the tertiary institutions in the state, “particularly our university. I am indeed grateful for his promise to reconstruct the internal road networks of our university as well as to furnish the magnificent Wole Olanipekun Senate Building which was commissioned in November, 2024.
“I wish to specially thank our 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 a state-of-the-art Wole Olanipekun Senate Building to the university, we are eternally grateful for his kind gestures.”