Financial crisis: OSUSTECH adopts new mode of salary payment

Education

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The Ondo state-owned University of Science and Technology (OSUSTECH) Okitipupa is facing financial difficulties that may affect the smooth running of the institution. The University was recently renamed after former Ondo State governor, late Dr. Olusegun Agagu, who established the institution nine years ago. The Nation learnt the management of the University presently pays only salaries without deductions in a bid to keep the institution afloat. Sources at the University noted that its subvention up to March 2019, while salary payment was up to May 2019. It was also gathered that the salary payment had been funded from Internally Generated Revenue (IGR) which excluded some allowances. A source from the bursary department of the University said salary payment for June and subsequent ones would be paid after all arrears are settled and IGR was sufficient enough to add to the monthly subvention received. The Nation learnt that workers who supported the augmented salary payment structure, in agreement with the Unions, were mandated to put down their names and signatures. It was learnt that the management had pleaded with the staff to manage their past earnings, while the period tough lasted. A Memo dated June 10, from Bursary department of the University where the information was circulated has been reportedly sent to all sections to intimate them of the present situation. The new Commissioner for Information and Orientation, Donald Ojogo could not be reached for comments on the development at OSUSTECH.

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