By Dare Akogun
The Central Bank of Nigeria (CBN) has selected the Federal Polytechnic, Offa as a beneficiary in the N2billion Tertiary Institutions’ Cassava Development Initiative Fund of the apex financial institution.
The acting Rector of the polytechnic, Dr Olarongbe Afolabi, disclosed this in an interview with newsmen today.
Dr Afolabi identified cassava development initiative as one of the economic drive interventions of the Central Bank of Nigeria in tertiary institutions to boost research, innovation and local production of raw materials.
He informed that the institution was firming up the feasibility and business plans of the project, assuring that it would take off anytime soon.
The acting Rector stated that the apex bank picked his institution as one of the beneficiaries of the cassava development initiative fund due to the commitment demonstrated.
Dr Afolabi, who enumerated his achievements in the last nine months of his appointment in acting capacity including renovation of critical facilities and offsetting of staff allowances, however, identified funding as one of the major challenges bedeviling the institution.
The acting Rector denied that the Polytechnic was in disarray over that appointment of a substantive Rector, appealing to stakeholders to consider the corporate interest of the institution in their actions and utterances.
