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Outrage as LASU hikes tuition by 168% for new students

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The management of the Lagos State University (LASU), has increased tuition of new students by 168%.

PM News reports that the school authority said the old students would continue to pay the initial N25,000 until they graduate from the institution while fresh students would pay the new increase of N67,048.50 per session.

Kilamity Media gathered that a circular issued by the institution showed that the hike in school fees would kick-off with the new intakes.

The circular said that the institution has commenced 2020/2021 online admission screening exercises (100-level – both regular and direct entry candidates.

It read: “2020/2021 online admission screening exercises (100-level – both regular without comprehensive entrepreneurship training and regular with comprehensive entrepreneurship training – and direct entry candidates”.

“Applications are invited from suitably qualified Candidates for the Lagos State University 2020/2021 admission screening exercise – Regular student without comprehensive entrepreneurship training – for candidates seeking admission via UTME (100 level) and Direct Entry (200 level).

“This online screening exercise is a mandatory requirement for entry into Lagos State University. The Tuition Fees for the Regular Student without Comprehensive Entrepreneurship N67,048.50 only per session.”

In his statement, the LASU’s spokesman, Adekoya Ademola, said the increment had nothing to do with the satellites, adding that they would continue to pay their N25,000 till they graduate.

He said the incoming students were the ones that would pay the N67,048.50.

Ademola added that the new fees had been approved by the governing council of the university and the Lagos state government has also keyed into it.

He said the school needed to get some funds to run the university, adding that the increment had been marginal, as it is not exorbitant.

The spokesman also noted that some parents and even the state government had commended the university for not skyrocketing the fees to an amount they could not afford.

Nigerians react to LASU fee increment

In her reaction to the fee increment, a Twitter user, @temidayo_ossai, lambasted the Lagos state government as she wondered why the fee jumped from N25,000 to N67,000.

N25,000 to N67,000.

Another Twitter user, @mikky_shaggy, said any final year student who has extra must prepare for another fee increment.

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FG To Introduce Tollgates On 12 Highways (Full List)

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In its bid to ensure the regular maintenance of its road network across Nigeria, the Federal Ministry of Works and Housing plans to concession no fewer than 12 federal highways to private entities to manage.

The arrangement would enable the private companies to introduce toll gates on the 12 highways and collect revenue which they would use and regularly maintain such roads.

This information is contained in a document, which Vanguard obtained, yesterday, from the Federal Ministry of Works and Housing in Abuja.

The 12 highways to be concessioned under the Ministry’s “Highway Management Development Initiative”, HMDI, are: Benin-Asaba, Abuja-Lokoja, Kano-Katsina, Onitsha-Owerri, Shagamu-Benin and Abuja-Keffi-Akwanga.

Others are: Kano-Shuari, Potiskum-Damaturu, Lokoja-Benin, Enugu-Port Harcourt, Ilorin-Jebba, Lagos-Ota-Abeokuta and Lagos-Badagry-Seme Border.

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Again, Elon Musk Becomes the Richest Man In the World

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Just days after Jeff Bezos was named as the richest man in the world, another businessman has overtaken him to reclaim the position.

Elon Musk became the richest man in the world on Friday.

The Tesla chief’s wealth surged to $200 billion after the rocket company, SpaceX he founded completed another funding round, pushing him atop the Bloomberg Billionaires Index for the second time in 2021.

He moved past, Amazon’s founder Jeff Bezos, who is now worth $194 billion and had some days ago earlier reclaimed the title as the world’s richest person this week after Tesla shares plunged.

Recent reports suggest SpaceX raised another $850 million this month from a group of leading institutional investors led by Sequoia Capital.

Such investment now puts SpaceX’s valuation at $74 billion, a 60% jump from August, and helped boost Musk’s net worth by about $11 billion, according to the index.

 

November 15, 2016, filing with the Federal Communications Commission revealed the tech billionaire owned 54% of SpaceX.

Although Bloomberg’s analysis assumes he hasn’t sold his shares in subsequent rounds and that his stake has been diluted to about 47% in proportion to the amount raised. The value is reduced by 15% to account for typical discounts that shares in unicorns attract on the secondary market, according to two brokers.

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All markets in Lagos has been ordered to be closed

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The order was given by the Iyaloja-General, Chief Folashade Tinubu-Ojo as a sign of respect for the former Lagos state Governor, late Alhaji Lateef Jakande.

Chief Tinubu-Ojo told The Nation that the first civilian governor of Lagos state deserved more than that for his giant strides.

She said it was a mark of respect and solidarity in honour of the deceased.

“We are shutting down all markets tomorrow (today) to mourn our father. We all know he was the former governor of Lagos, who dedicated his time to develop the state, and dedicating a day in his honour is a good thing,” she said.

Confirming the directive, Chief Executive Officer of Bolswot Ventures at Oshodi Market, Alhaja Bola Olufowobi, said the Iyaloja-General’s initiative was a welcome idea.

The late Jakande, she said, deserved the honour.

“He was a good man. We are happy with the directive,” she said.

Most street traders around the Idimu axis were not aware, but Madam Beatrice, at Ikotun market, said an announcer went round the market to announce the closure.

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