The acting Rector of Abia State Polytechnic, Aba, Mr. Okpara Onyekwere, has stated that the institution received N4 billion from the Tertiary Education Trust Fund (TETFUND) from 1999 to date.
Onyekwere, who made the statement on Thursday in Aba when members of the state Correspondents’ Chapel, Nigeria Union of Journalist (NUJ) paid him a courtesy visit, said that the polytechnic had benefited immensely from TETFund.
He added that the trust fund was a major source of funding for the institution after the state government.
The rector said that the state government had paid the N2 billion loan the institution took from First Bank, adding that the payment had assisted to put the polytechnic on sound financial footing.
He said that the institution spent a lot of money to service the loan in the first month and there was no hope of liquidating the facility before the intervention of the government.
Mr. Onyekwere said that as part of its efforts to boost internally generated revenue, the management of the polytechnic was investing in commercial projects such as water processing plant and bakery.
The rector expressed the hope that in the next two years, the polytechnic would become self-sustaining.
He also added that the polytechnic would soon commence a three-month certificate programme for artisans, bricklayers, mechanics and electricians in Aba as part of efforts to impact on its environment. (NAN)
