Joseph Fuwape, the vice-chancellor of the Federal University of Technology, Akure, is not happy about the inadequate funding of the institution.

Fuwape said the allocation to the school from the federal government’s allocation to the university had drastically reduced in the recent times.

Speaking at the inauguration of the FUTA Alumni Trust Fund Board, held at the Senate building of the institution, the vice-chancellor, however, said the varsity had been surviving through the intervention of the Tertiary Education Trust Fund.

The trust fund was organised by the FUTA Alumni Association to help the institution to meet financial challenges.

Besides, Fuwape said: “We have changed the financial landscape of the university, the allocation of government has drastically reduced, that is what we met on the ground. For instance, in June 2018, we had a shortfall of N1.2billion

“However, we have been enjoying the intervention of TETFUND. Also, we established a commercial farm to produce agro-products for commercial purposes in order to raise our Internally Generated Revenue.”

In his address, Olaitan Adesomoju, the president of the alumni association, disclosed that the association was targeting N1billion annually to assist the university…

August 6, 2018 @ 14:52 GMT|