Abia State Polytechnic, Aba, received N4 billion from the Tertiary Education Trust Fund (TETFUND) from 1999 to date, the institution acting Rector, Mr Okpara Onyekwere, has said.
Onyekwere made the statement on Thursday in Aba, when members of the state Correspondents’ Chapel, Nigeria Union of Journalist (NUJ) paid him a courtesy visit.
He said that the polytechnic had benefitted immensely from TETFUND, adding that the trust fund was a major source of funding for the institution after the state government.
“TETFUND has been very helpful to the polytechnic; TETFUND has equipped five engineering programmes in the institution,’’ he said.
The rector said that the state government had paid the N2 billion loan the institution took from First Bank, adding that the payment had assisted to put the polytechnic on sound financial footing.
He said that the institution spent a lot of money to service the loan in the first month and there was no hope of liquidating the facility before the intervention of the government.
He said that as part of its efforts to boost internally generated revenue, the management of the polytechnic was investing in commercial projects such as water processing plant and bakery.
He said that with a students and staff population of at least 20,000 and 1,000 respectively, the institution had large market for the products.
Onyekwere expressed the hope that in the next two years, the polytechnic would become self-sustaining “if the government’s monthly subvention of N90 million is regular.”
He said the polytechnic would soon commence a three-month certificate programme for artisans, bricklayers, mechanics and electricians in Aba as part of efforts to impact on its environment.
He appealed to public spirited individuals and philanthropists to support the institution to actualise its dreams.
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