MAPOLY GENERATES N2.259BN IN EIGHT MONTHS

Authority of the Moshood Abiola Polytechnic, Abeokuta says it has generated over N2,259 billion within eight months as against its internally generated revenue target of N2.478 billion which represents over 91% of its target in the current fiscal year.
The Institution’s Rector, Prof. Oludele Itiola disclosed this while receiving the members of the Ogun State House of Assembly Committee on Education, Science and Technology in his office in Abeokuta.
Prof. Itiola said that out of the revenue generated, the sum of N58m was spent on furniture, N3.6m expended on purchase of library books and equipment, while another N43.7m was spent on other equipment.
He added that over N114m was expended on the construction of building and other infrastructure, just as another N37.4m was spent on rehabilitation / repairs of office buildings.
The Rector explained that rehabilitation / repairs of street lights gulped N3.3m, while N6.2m was expended on computer software acquisition while accreditation, training of personnel and land preparation / fencing took N16.2m and N18.4m respectively amounting to a total of N379m for total capital expenditure as at August 2015.
Prof. Itiola assured that the institution was committed to producing high quality human capital that could compete favourably with its counterparts across the globe, saying they would put in more efforts to surpass the current achievement in the next fiscal year.
Responding, the Chairman of the Committee, Hon Oludotun Fasanya charged the authorities of the institution to strive harder in sustaining qualitative and affordable tertiary education programme to the people with less financial burden on the parents and students.