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By NBF News
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The University of Maiduguri yesterday commissioned N55m worth of ultra-modern 66 room hotel at in Utako district, Abuja as part of ist investment plan to generate revenue for the running of the institution.

Pro-Chancellor and Council chairman of the University, Dr. Bola O. Babalakin (SAN) who declared the the project open said the project was to confirm the wish of President Goodluck Jonathan that institutions could find means of generating revenue for the running of Universities.

The edifice which is part of several others projects the University started recently was completed within the period of 18 month said Babalakin while cutting the tape.

He said the completion marked the actualization of a dream by the council and management of the University management as it was conceived, and executed within four years without any indebtedness to any financial institution.

'The council has instituted and completed over 50 projects part of which includes a 1000 capacity hall, two separate 500 capacity auditorium, campus radio station, and several other new faculties.

The Pro Chancellor said 'In all Universities abroad, there is a demonstrable attempt to create revenue, education is very expensive and we need to find a way to fund it, in Maiduguri we have no money and we also know that we need to find money so we decided at the council that we need to invest the limited resource in areas where we can generate fund, and you will hear of others very soon.'

On the management of the hotel, Babalakin said, the institution had contracted a consultant that would manage it as the university cannot leave its statutory responsibility and core duties which is providing knowledge to run a business while assuring that the accommodation problem which was not limited to the University of Maiduguri alone would be solved as soon as the president has constituted a committee to see to the provision of adequate accommodation in the campuses.