The Pro-Chancellor and Chairman Governing Council of Adekunle Ajasin University, Akungba-Akoko, Ondo State, Dr. Tunji Abayomi yesterday disclosed that the state government is spending a whooping sum of N5.700bn to run the state-owned University yearly, while the total income of the institution stands at N2.710bn.
He insisted that time has come to save the university from total collapse which necessitated the new increase in the school fees, just as he said the state Governor still has the final say as whether to maintain the new fees or review it downward.
Abayomi who made this known while briefing journalists at his Ijapo residence also officially announced the school fees payable by both returning and fresh students of the institution for 2017/2018 academic session.
According to him, Faculties of Arts and Education: Fresh Students: N150, 000 per session or N75, 000 per semester while returning students will pay N120,000 per session or N60, 000 per semester.
Faculties of Science, Agric, Social and Management and Business Sciences: Fresh Students will pay N90,000 per semester or N180, 000 per session, while Returning Students are expected to pay N75,000 per semester or N150, 000 per session.
Also, for Faculty of Law: Fresh Students will be required to pay N100, 000 per semester or N200,000 per session while Returning Students are to pay N75,000 per semester or N150, 000 per session.
He explained that the highest school fees payable by returning students is between N120,000 and N150,000 per session.
The Pro-Chancellor noted that the old school fees are no longer sustainable because of the pressing needs of the institution to sustain its high academic status.
"The minimum amount required to sustain the University is N5.700bn yearly.
"The total income from the seventeen thousand regular and two thousand irregular students of the institution plus other small charges will give the University N910m, while government also pay the institution a total N1.8bn subvention yearly.
"So if you add N1.8bn to N910m you will get N2.710bn. That is the total income of the University.
Now, we look at the expenditure, N500 per day is being spent on each regular students, amounting N15,000 per month or N180,000 per year", he said.
A total of N3.60bn is required to sustain the students, while salary of staff stands at N2. 40bn per year, all amounting to N5.700bn.
The University Council agreed to share the deficit of N3bn between the parents of the students and the University Council.
The Council agreed to raise a total of N1.290bn from sources including foundations, endowment among others, while the students will look for N1.700bn to meet up with the minimum amount of N5.700bn to run the University yearly.
"That is the basis on which we increased the school fees", Abayomi stressed.
Earlier, the Pro-Chancellor including the Vice-Chancellor of the institution, Prof. Igbekele Ajibefun and the state Commissioner for Education, Science and Technology, Femi Agagu had meeting with student leaders in the residence of Dr. Abayomi to further discuss the issue.
But in their swift reactions, the student leaders who had earlier met with the Governing Council in company of the Vice Chancellor and the state Commissioner for Education, Science and Technology rejected the increment and directed all students not to pay any school fees until further notice.
The student leaders including, SUG President of AAUA, Ijanusi Olawale, the NAOSS President, Akeredolu Emmanuel and the JCC Chairman,Adewumi Adebowale vowed to protest the increase.