Dr Salisu Umar, the Rector of Auchi Polytechnic, Auchi, Edo on Wednesday said the institution was indebted to the tune of over N1.3 billion when he took over.
Umar disclosed this while addressing newsmen during his one-year stewardship as the rector of the polytechnic.
He said N24 million was paid monthly to part-time lecturers and casual workers in the institution.
“Our Internally Generated Revenues (IGR) over one year have really suffered a great blow because of the debt I met on the ground.
“When I came on board I met over N1.3 billion debt which I can authoritatively tell you we have settled over 90 per cent of it and that does not stop us from doing little things.
“If I look at the money we spent on paying part-time lecturers, I have over 700 casual workers in this school and we pay them over N24 million monthly and that did not include the electricity which we also pay from our IGR.
“This does not include diesel which we also pay from IGR, but in all this, I will not want to use them as an excuse for me not to develop the school.
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“I have already pushed myself and the institution to a point of no return that whether I like it or not I must put infrastructure on the ground.
“So money is a problem, but by God’s grace, we will try to manage the little resources we have without waste, to make sure that we achieve what we intend to achieve within the stipulated time,” Umar said.
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Umar said he had carried out numerous projects in the last year with some completed and others at 80 per cent level.
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