Funding: polys convert consultancy units to coys
Some polytechnics in the country have converted their Consultancy Units to limited liability companies to bolster their revenue generation.
Chairman of the Committee of Chairmen Governing Councils of Federal Polytechnics, Mohammed Abubakar, disclosed in Abuja during a visit to the Minister of Education, Mallam Adamu Adamu.
The visit which was in view of the expiration of the 4-year tenure of the governing councils of federal polytechnics in the country, was used by the boards to present their scorecards to the minister.
Abubakar noted that rather than wait on the industrial sector to commercialize researches churned out by the institutions, some members of the councils spearheaded efforts to convert their consultancy units to limited liability companies
He also revealed that through the efforts of the committee, funding of Federal Polythenics has improved, leading to better standard of living of staff and students, a statement by the Deputy Director of Press, Mr. Ben Goong, said.
According to him, in agreement with the policies of the present administration, the committee always ensured every member complied with stipulations of the National Economic Empowerment Development Strategy, NEEDS, assessment policy of government.
Abubakar said the governing councils are working closely with the Committee of Federal Rectors to foster better understanding between councils and management in the nation’s federal polytechnics, in line with its mandate of revitalizing the institutions.
He expressed the councils’ excitement at the opportunity to contribute to industrial harmony by participating in various negotiations, which has led to the resolution of disputes in these institutions.
Responding, the Education Minister, Adamu, expressed appreciation to members of the various Councils for contributing their quota to the development of the education sector.
He commended them for the huge strides they have made in the course of carrying out their duties, especially in the area of ensuring and maintaining industrial harmony in the polytechnics, while urging them to lay more emphasis on vocational training in Federal Polytechnics, in an effort to make the students more self-reliant.