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BOUESTI VC, Prof. Andrew Omojola |
Bamidele Olumilua University of Education, Science and Technology (BOUESTI), Ikere Ekiti, has spent approximately N4.88 billion on pension and gratuity obligations over the past five years, its Vice-Chancellor, Professor Andrew Omojola, has disclosed. The figure was released in response to a protest by some of the institution’s pensioners who demonstrated on Monday, 14 September 2026, over delayed payments.
In a statement issued in Ikere Ekiti on Wednesday, the Vice-Chancellor dismissed suggestions that the university had abandoned its retirees. He clarified that the institution currently owes pension for August 2026 and 50 per cent of the July 2026 entitlement. According to him, the shortfall arose from a combination of paucity of funds and a technical upgrade of the university’s payment gateway by its bankers.
“This delay is not intentional,” Omojola stated. “Management is working assiduously and is hopeful that payment for August 2026 will be made on or before Friday, 19th September 2026. We have also planned to pay the outstanding 50 per cent of July 2026 pension within the same period to alleviate the condition of our retirees.”
He emphasised that the university had maintained consistent monthly pension payments until the current interruption, describing the August delay as the first of its kind. The detailed expenditure breakdown provided by the Vice-Chancellor shows death pension at N205.069 million, gratuity at N570.693 million, pension arrears at N165.094 million, and monthly pensions totalling N3.939 billion, bringing the five-year outlay to N4.88 billion since 2021.
Omojola noted that management had engaged the executive of the retirees’ association prior to the protest to explain the prevailing challenges. He expressed regret that the earlier discussions failed to avert the demonstration. Reaffirming the university’s commitment, he said management remains sensitive to the plight of pensioners and regards their welfare as a top priority, acknowledging their years of service and sacrifice.
The Vice-Chancellor appealed to retirees to remain calm while payment processes are concluded and urged the public to disregard any narrative suggesting that BOUESTI has reneged on its pension obligations. The development highlights ongoing financial pressures facing state-owned tertiary institutions in Nigeria even as they strive to honour statutory commitments to former staff.
**Meta description:** BOUESTI VC reveals N4.88bn spent on pensions, gratuities since 2021; assures retirees delayed July-August payments coming by Sept 19.