The University of Ibadan on Thursday began the collection of N1, 000 on each vehicle parked in the institution.
The latest move to boost the university’s revenue profile came as it matriculated 3, 502 students for the 2016/2017 session.
Newsverge reports that parents and visitors alike were taken aback at the entrance of the university when they were asked to pay N1, 000 for the use of the car park.
Newsverge reports that the university in recent times had been lamenting over poor funding of the university, a situation the management described as unfortunate for the 69 -year -old institution.
A printed N100 ticket was, however, stamped with N1,000 and given to parents and visitors who wished to have their vehicles secured at the car park.
Some of the visitors, who spoke with Newsverge, expressed their displeasure at the development, saying that the price was outrageous.
Mr Isaac Ajimobi, who came from Osun, said that he had never paid such an amount for use of car park.
He said: “Even if the university is seeking for other means of generating funds, this is too much. How will the management increase car park ticket from N100 to N1, 000?’’
An official of the university, who craved anonymity because he was not authorised to speak, said management was authorised to explore any source of revenue to augment its regular allocation.
“It is normal, other institutions do the same.
“University of Ibadan is not doing anything illegal, even the Federal Government has asked management to look for ways of generating income,” the source said
The Vice Chancellor of the University, Prof. Idowu Olayinka, recently raised an alarm over underfunding of the university.