The Olabisi Onabanjo University (OOU), Ago Iwoye, says it has received a total of N5.072bn, which included a total of N4.110bn from the internally generated revenue covering over N2.663bn from school tuition and examination fees between and October, 2021 representing 64.2% of its target for the year.

Prof. Deji Agboola, the institution's Deputy Vice Chancellor Academics, disclosed this while defending the 2022 budget proposal of the university before members of Ogun House of Assembly Committee on Finance and Appropriation led by Hon. Olakunle Sobukanla, at the Assembly Complex, Oke-Mosan, Abeokuta.

Agboola added that the sum of N686m was received from domestic grants from the State government, N276m grants from Federal government through TETFUND, while over N369m was realised from the payment of acceptance fees amongst others.

He noted that the revenue were generated from other sources including the school tuition and examination fees, hospital service charges, administrative fees, transcripts, acceptance fees, sales of ID card and sales of bills of entries among others.

The Deputy Vice Chancellor stated that the institution had proposed to generate the sum of N6.079bn as internally generated revenue in 2022 for the period.

He added that the school had earmarked N4.7bn as recurrent expenditure in the next fiscal year, while capital expenditure would gulp N305million with total expenditure going for N5.030billion.

Agboola added that the institution was commiting 40%  of its capital expenditure to the improvement in the physical infrastructure by the first half of 2022; promising to achieve at least 95 % of the budget by the end of the next fiscal year.