ABUAD: Afe Babalola Rewards Outstanding Students With N476.8m, Increases Lecturers Salary By 5 Per Cent
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Legal luminary and founder of the Afe Babalola University, Ado Ekiti (ABUAD), Chief Afe Babalola (SAN), said he has spent a total of N476.8million as financial rewards to brilliant students in seven years.
Mr. Tunde Olofintila, Head Corporate Affairs, who disclosed this yesterday in a statement made available to newsmen in Ado Ekiti, quoting Afe Babalola as saying this while addressing the institution’s Senate at a special session.
The amount, according to the legal icon, was the total accumulation of what he spent so far to encourage scholarship, just as he announced a five per cent increase on salary of lecturers.
According to him, Babalola also stated that he would start giving scholarships to two students in each of the five undergraduate colleges, the best student among those newly admitted, including the poorest students, from next admission.
He said part of the scholarship package would include free tuition and $5,000, in addition to the yearly prizes, instituted in 2013.
Under the scheme, any student who scores 4.5 GPA goes home with N100, 000; a student who scores 4.8 GPA takes N250, 000, while the one that scores 5.0GPA gets N500, 000.
On the salary increase, Babalola said: “The university is interested in staff welfare, and that is why we have analysed and collated salaries of teachers at all levels in private, state and federal universities.
We have thus decided to increase ours by five per cent over and above the highest.”