Alumni to raise N1b bailout fund for LAUTECH, Ladoja donates N2m

Some alumni of Ladoke Akintola University of Technology (LAUTECH), Ogbomoso and other concerned individuals have began efforts to raise the sum of one billion naira (N1b) in order to bail the institution out of its present financial crises.
Coordinator of a group tagged “FundLAUTECH”, an initiative set up to bail the institution, Mr. Bayo Adeyinka made this revelation during a visit to former Governor of Oyo State, Senator Rasidi Ladoja at his Ondo Street residence in Ibadan on Wednesday.

Adeyinka narrated how many current and former students lost foreign admissions, jobs and other opportunities as they were unable to process their transcripts and other documents due to the crises, adding that “about 37 consultants have left the teaching hospital alone”.
He also disclosed that some alumni of the institution who were currently working could not get promotions and other entitlements because there was no one to give them needed documents.
“Ogbomoso is now a ghost town because the economy of the state is attached to the university.‎ If any of the students who have been at home for 3 years takes to arms, who are we going to blame?

“Anybody can be the victim. Some who entered the university in 2015 are still in 100 level while their mates in other institutions are in 200 or 300 level”, he said.
Adeyinka added that, last week, the Ooni of Ife, Oba Adeyeye, who promised to chair the initiative’s Board of Trustees, donated N500, 000 to the cause.
He said the initiative which was launched on June 12th this year has realized only less than 3 million naira as at Wednesday before they visited Ladoja.

Adeyinka then called on spirited indivuduls and alumni of the institution to come to the aid of the university.
He maintained that the aim of the group was to generate the N1b within 90 days.
“We are not saying the state should not ‎audit the institution; let the school be opened. You cannot even audit when they are not in school.
“What we are doing is like a palliative. We are working with ASUU. When we finish raising the fund, we will give the staff and they will resume while the government continues auditing, within 3 weeks.
“We are raising N1b within 90 days to bail LAUTECH; we are not dashing them we are using it as short term solution.

“Beyond the donation, we have created a website, we have a governing board and the Ooni of Ife has accepted to be the chairman.
“Our long term objective is that by the time this is resolved, we want to use the fund to open an ICT hub so that everybody can develop technological thing in LAUTECH.
“Our short term is on what we can do to resolve this issue. Things have become worse that when they resumed; some courses will have to be re-accredited.”
Ladoja while issuing a cheque of 2 million naira also promised to donate his pension for the next six months to support the initiative.
His pension, according to sources, is N644, 589.15 per month.
Eight (8) Accord party lawmakers in the Oyo State House of Assembly led by Hon. Kehinde Oloya, Hon. Fatai Adesina and Hon. Akeem Ige also pledged a donation of N1, 000, 000 to support the FundLAUTECH project.
The lawmakers who said they had made several efforts to ensure that the crises rocking the institution become a thing of the past appealed to other concerned individuals to save the institution from its collapsing state.
Speaking at the reception, Ladoja, who said he did not have the privilege of going to LAUTECH, but studied in Belgium, noted: “I know the value of education. If you educate your child, you are ensuring a good future for yourself.
“It is not only that you are serving LAUTECH, you are serving humanity. What is going to be the fate of those students who have been in the same class for close to three years? Whatever happens to LAUTECH happens to all of us.
“My records are there in LAUTECH, as governor. I wanted to make the school number one but we made 5th position. That is commendable. Why thinking of the immediate, we must plan for the future. Is it safe to give it to government? Is it safe to trust government with LAUTECH?”
The pictures attached showing
(1) Senator Rasidi Ladoja (middle) while presenting the cheque to the leader of the group, Mr. Bayo Adeyinka (in suit, second left) and other members of the group on Wednesday.
(2) Senator Ladoja flanked with members of the group displaying the group poster Wednesday.
(3) One of the Accord Party lawmaker in the state House of Assembly, Hon. Fatai Adesina representing Ibadan South East 1 displaying the poster of the group, FundLAUTECH.