The impending financial calamity that may soon befall the Ogun State owned Moshood Abiola Polytechnic, Abeokuta, Ogun State may affect the regular payments of salaries and arrears of staff of the institution.
The governor of the state had in the past six years or thereabout stopped releasing subvention to the institution and with the appointment of Professor Ijiola as the new rector, the institution was restructured and reorganized to the extent that it was able to stand on its own using internally generated funds to run the affairs of the school without any problem.
But financial calamity may soon loom at the institution as the source of revenue which is sales of form and recruitment of new intakes for the institution was suspended by the governor who is planning to covert the school into Moshood Abiola University of Technology. He has laid the foundation for another polytechnic in Ipokia and asked the existing one not to sell forms. With this, the institution may not be able to pay staff salary beyond September and this may lead to a financial crisis for the institution and its workers.