The vice-chancellor of the Obafemi Awolowo University, Ile-Ife, Professor  Eyitope Ogungbenro Ogunbodede, while addressing stakeholders and management staff of the university, revealed that the school spends over N80 million on electricity and another N2 million on diesel every month as part of its running cost.

Ogunbodede made the disclosure at the occasion marking the school’s 60th Anniversary Celebration on Tuesday, June 8, at the university campus, saying the huge sum will be used for more challenging issues when the ongoing power project in the university is completed, to aid regular power supply and reduce the economic burden on the institution.

The vice-chancellor said the institution is committed to promoting academic excellence across fields of learning, adding that though the university has lots of breakthroughs in the area of research, it will not relent in ensuring quality research into results for the benefit of society.