The Vice-Chancellor of Redeemer’s University, Ede, Osun State, Professor Shadrach Akindele, has said the prevailing economic realities and the new salary structure approved by the Federal Government necessitated the upward adjustment of fees by the institution.
Prof. Akindele stated this on Monday during the 18th convocation press briefing, adding that the rising cost of living has considerably increased the running cost of universities, making it difficult to sustain operations without reviewing fees.
The Vice-Chancellor noted that if private universities fail to key into the new salary structure approved by the Federal Government, they risk mass migration of their staff to federal institutions.
He said, “The economic reality of the society in which we are living has made things become more expensive, such that our running costs have increased considerably. Now, with that new salary structure, which they implemented at the federal level for federal universities, if a private university doesn’t key into that, what you will observe is mass migration of staff from your university to federal universities, and there is nothing you can do to keep them.
“So, for you to be able to keep your staff, you must match at least what the Federal Government is paying, and because we are a private university, we don’t get grants from government, and we don’t want to compromise on the quality of service we provide; we rely on the fees we collect from students to pay our staff.”
Prof. Akindele explained that the university will be graduating a total of 2,471 students at both undergraduate and postgraduate levels on Thursday and Friday, urging parents and graduands to note the date assigned to their faculty and college.
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