LAUTECH Alumni Closes For N1 Bn To Pay Staff Salaries
The Ladoke Akintola University of Technology (LAUTECH) Alumni Association yesterday unveiled the FundLautech initiative with a view to addressing the financial problem facing the institution
Speaking at the unveiling in Ibadan on Monday, a former President, Students’ Union Government (SUG), Mr. Bayo Adeyinka said the aim was to raise N1 billion within 90 days to contribute their own quota towards solving the problem.
He said that after weeks of consultations and serious brainstorm, the initiators of the FundLautech team decided to adopt the crowd funding model where alumni members and friends of LAUTECH could send in their donations.
According to him, this donation will be used to pay salaries and obligations of the staff of LAUTECH.
“The current wage bill of LAUTECH is N350 million monthly. If we succeed in raising this sum from the general public, we would have a foot in the door which will enable the university open while negotiations and auditing as recommended by the visitation panel can continue,” he said.
Adeyinka appealed to all alumni members, friends and well wishers to contribute generously to the project.
“Your gifts will enable the students go back to school. Your gifts will save some jobs. Your gifts will help some people to move in life. No amount is too small or too big to come to the aid of a once reputable university. LAUTECH must not die,” he said.
While noting that for three consecutive years, LAUTECH was adjudged by the Nigerian Universities Commission (NUC) as the best state university in Nigeria, Adeyinka said the institution is now a shadow of itself going by perennial strikes which have crippled the university and seriously diminished the progress of the fledging institution.