The Vice Chancellor (VC), University of Abuja , Professor James Adelabu, said he took overa huge debt profile from his predecessor, Professor Nuhu Yaqub, who allegedly ran the institution on credit.
Adelabu at a news conference yesterday at the university permanent site, Airport Road,Gwagwalada, Abuja, added that most of the project embarked upon by the last administration, including purchase of academic gowns, which alone cost N29 million were done on credit.
He said: "At the inception of this administration, we inherited a huge profile of outstanding payments, especially that of the academic staff who were owed for, in many cases, up to two years of various teaching and other academic allowances".
Adelabu said effort to offset the huge debt profile coupled with limited funds had impacted negatively on the pace he set for himself to rapidly transform the university to a befitting institution in the nation’s Federal Capital Territory.
Giving further insight into some of the debt he said his administration had already cleared, the Vice Chancellor said: "There were also promotion arrears for all categories of staff hanging. There were many purchases made on credit. For example, academic gowns for over N29 million, fire fighting vehicle over N33 million, water tanker over N17 million and generators: Calsat, over N28 million, JMG over N21.8 million, just to mention a few. However, the above debts have all been paid".
University of Abuja debt-ridden— UNIABUJA VC.