Mr Silas Gyar, the Rector of Nasarawa State Polytechnic, Lafia, says the institution generates over N120 million Internally Generated Revenue (IGR) annually.
Gyar said this on Thursday while addressing newsmen in his office.
He said that the money was generated from the tuition fees.
“We have over 7,000 students, when you add the number of the students by the amount being paid every semester, you have N120 million.
“Though the indigene students pay an average of N17, 000 every semester, while the non-indigenes pay N30, 000 which is about N120 million.
“We only charge N2, 500 for indigenes, while non indigenes pay N15, 000.
“So if you add the N2, 500 and N15, 000 depending on the number of indigenes and non indigenes for tuition fees every semester, you have N36 million in a session.
“Other charges are to take care of their examinations, medical bills, games, identity card, among others,” Gyar said.
He said that the polytechnic was spending an average of N38 million in producing booklets, stationery, refreshment and other allowances to conduct successful examinations every session.
Gyar debunked the insinuation making the rounds that the institution generated over N400 million annually and challenged anybody with prove to bring it forward.
“We also augment our monthly allocation with N4.6 million every month to enable us pay our staff full salaries.
“We also maintain the existing structures and facilities, so the public can see how we are spending our IGR,” he added.
The rector assured the staff and students of his determination to create academic friendly environment by improving facilities and welfare of staff.