Alumni to raise N1bn to resolve LAUTECH crisis
The alumni association of Ladoke Akintola University of Technology, Ogbomoso has intervened in the ongoing crisis that has rocked their Alma Mata for several months. The intervention plan which was unveiled on Monday is to raise N1bn within 90 days to help ease the financial challenges of the institution.
According to Mr. Adebayo Adeyinka who initiated the idea said that the target was to raise N7bn as financial relief, and was conceived after a lecturer of the school approached him for financial support.
“The day a lecturer begged me for N1, 000 was the day I knew that we could no longer fold our hands. Together with the #fundlautech team, we decided to do something. The easiest thing in the world is to criticise. But we are determined to put our money where our mouth is.
“The unveiling today is the result of that determination to contribute our quota towards solving this problem. After weeks of consultation and brainstorming, the initiators of the project decided to adopt the crowd-funding model where alumni members and friends of the school can send in their donations. This donation will be used to pay the salaries and obligations of the staff of LAUTECH.
He added that “Our aim is to raise first N1bn within 90 days. The current wage bill of LAUTECH is N350m monthly. If we succeed in raising this sum from the public, we will have a foot in the door, which will enable the university to reopen, while negotiations and auditing as recommended by the visitation panel can continue.”