Former students of Ladoke Akintola University of Technology (LAUTECH), Ogbomoso , on Monday unveiled a plan to raise N1 billion within 90 days to be deployed in solving the problems of the institution.
The agenda was unveiled on Monday in Ibadan at a news conference organized by the alumni of the school under the tag, Fundlautech team.
Bayo Adeyinka who is one of the members of alumni said the ultimate aim is to raise 7B to salvage the situation.
“Our aim is to raise N1billion within 90days. The current wage bill of LAUTECH is N350 million monthly.
“If we succeed in raising this sum from the general public , we would have a foot in the door which will enable the university open while negotiations and auditing as recommended continues,’’ he said.
He said that the team had evolved a short and long term strategy in achieving this, adding that the short term strategy was to get the university opened very quickly.
According to him, “our long term strategy involves visits to high profile citizens in a bid to resolve this impasse once and for all.’’
Adeyinka recalled how the late Chief MKO Abiola, a former Chancellor of LAUTECH in 1989 donated N2, 050,000 to the same university in 1989 when it was Oyo State University of Technology (OSUTECH).
“It is ironic in 1989, a Higher Education Appeal Fund realized the sum of N19 million in cash and pledges from launching of the new university then called Oyo State University of Technology (OSUTECH).
“Tragically, twenty eight years after, we have to raise money again from the general public to fund the salaries of the institution.”
“On that day in 1989, Chief MKO Abiola who was the chief launcher donated the sum of N2,050,000 in Ibadan,” he added.
He noted that the date for the launching of the project was carefully chosen to honour the memory of Chief MKO Abiola, who was the Chief Launcher in 1989 when a higher Education Appeal Fund realized the sum of N19million in cash and pledges.
Adeyinka stated that the launch was to commemorate the memory of the annulled presidential election believed to have been won by the first chancellor of the University is to match on with his legacy.
He appealed to alumni members, friends and well meaning Nigerians to contribute generously to the project.
“Your gifts will enable the students go back to school. Your gifts will save some jobs. Your gifts will help some people to move on in life.
“No amount is too small or too big to come to the aid of a once reputable university. LAUTECH must not die.
“We are also engaging ASUU and SSANU to join us in managing the fund. We have made plans for a board comprising reputable citizens to also superintend the fund as a second level check.
“Daily updates will be given on the website www.fundlautech.com on amounts received,’’ he said.
Adeyinka said that they were not pretending to have all the solutions to the problem, adding they would not also sit on the fence.
He said that they are tired of just being mere critics, saying they would rather try and fail than do nothing and succeed.
The initiator revealed that the project has already recorded a first donor in the person of Mr Ijaya Babatunde.
The team in their separate remarks appealed to the current Chancellor of the University and the National leader of All Progressives Congress (APC), Senator Bola Ahmed Tinubu to wade in.
They urged Tinubu not to allow the legacy of the institution die during his tenure as the Chancellor of the university.
Also, Mr Samson Owoyokun, the Public Relations Officer, LAUTECH National Alumni Association appealed to the visitors to stop pampering the Osun State University and Technical University at the expense of LAUTECH.
They equally challenged the owner states, Oyo and Osun Governments respectively to honour their obligations by releasing funds for the payment of salaries of staff of the institution.
(Edited By Olamide Michael)