The minister for Education, Mallam Adamu Adamu has announced that the Federal Government will soon release the allocation of the revitalization funds to the various polytechnics that were part of the NEEDS Assessment exercise.
Adamu disclosed this in his address at the 34th convocation organised by the Yaba College of Technology (YABATECH) where 7,454 graduates of the 75-year-old college were presented national, and higher diplomas and prizes for outstanding academic performances, saying the payment will commence before the end of the year.
Malam Adamu, represented by the Director of Special Duties, Mrs. Vivian Wategire assured the academic community of continued support in all aspects to strengthen the polytechnic education sector.
He said, “On the part of the Federal Government, I want to assure you of our continued support in all aspects to strengthen our polytechnics. A recent demonstration of this is the recent conclusion of allocation of the revitalization funds to the various polytechnics that were part of the Needs Assessment exercise.
“I want to assure you that before or by the end of the year, those polytechnics that have submitted the required information and documentation would start receiving part of what is allocated to them.”
To the graduating students, Adamu urged them to deploy all the ideas and competencies acquired to ensure the transition from a resource-based economy to a knowledge-driven economy, increase employability, address the socio-economic challenges and sustain the production system.
The Rector of the College, Engineer Obafemi Omokungbe described the 34th convocation as a landmark occasion marking his last convocation and end of five years tenure and thanked the Visitor to the College President Mohammadu Buhari, the Minister of Education, the Chairman Governing Council, Prince Lateef Fagbemi for the opportunity to serve the college and the nation.
He lauded the management of the college, staff unions, community members and the students, security agencies and the entire host communities for their commitment and steadfastness, the modest achievements could not have been possible without their support.
Giving a breakdown of the performances for the 34th combined ceremony for the 2018/2019, 2019/2020 and 2020/2021 academic sessions, the Rector said 560 for the HND (full-time and part-time) had Distinction, 5,920 Upper Credit, 11, 921 Lower Credit and 4,477 with pass grade.
He said the N50 billion endowment fund launched by the college recently was meant to address the dilapidating state of infrastructure in the college.
“Endowment Fund is a clarion call to all the stakeholders particularly the Alumni to come on board the development train of Yaba College of Technology as it is an ongoing exercise. A board of Trustees headed by Dr J.K Nanyeju, a former Accountant General of the Federation has been put in place to manage the fund for the development of the College. Efforts are still ongoing to gather more funds for the endowment of legacy projects. About six Bank Accounts have been opened for the purpose. This is to ensure a transparent and effective Management of the fund. It is our fervent hope that succeeding administrations will be faithful to the objectives of the fund and improve on the doors already opened for the endowment.”
