Management of the University of Ibadan says it will have to cough up N280 million each month as IBEDC reveals plans to move the institution to Band A.

This was disclosed in a statement by the school’s spokeswoman, Joke Akinpelu, on Thursday.

University students had taken to the streets to protest the hike in tuition fees and the rationing of electricity on campus. The school denied the alleged electricity rationing.

The statement that the university had met with the leaders of the students’ union over the protest on Wednesday and discussed the challenges currently facing the institution.

The deputy vice-chancellor (administration), Peter Olapegba, presided over the meeting and explained that inadequate funds hamper the institution’s management.

According to him, the university presently pays over N80 million monthly for electricity, adding that with IBEDC’s plan to move it to Band A, the institution might be paying nothing less than N280 million monthly.

Mr Olapegba explained that the university was not charging any tuition fees but that the hike in charges aligned with national economic realities.

He said that the institution’s governing council might address the hike.

(NAN)