Subsidy Removal: Covenant University approves 20% salary increase for workers

“The VC appreciated the Board of Regents of the university, led by the Chancellor, Dr. David Oyedepo.’’

News Agency of Nigeria • November 22, 2023

Bishop David Oyedepo

The Board of Regents, Covenant University, Ota, Ogun State, has approved a 20 per cent salary increase for the staff of the institution.

The institution’s Vice-Chancellor, Prof. Abiodun Adebayo, said this in a statement on Wednesday in Ota.

Adebayo said the decision by the Board to implement the salary increase was to cushion the adverse effect of the removal of fuel subsidy, which led to a rise in inflation in the country.

“The VC appreciated the Board of Regents of the university, led by the Chancellor, Dr. David Oyedepo, in making such a compassionate decision to alleviate the harsh economic situation of the country for the university’s workforce,” he said.

According to Adedayo, the salary increase will take effect from September to boost the morale and commitment of the faculty and staff of the university.

He added that the development has also engendered a fresh drive and vigour in the pursuit of its vision of raising a new generation of leaders and the actualisation of its newly unfolded Vision 7-2030 agenda.

(NAN)

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