The Covenant University Management, following the approval of the Board of Regents of the institution, has commenced the payment of a 20 percent salary increase for all faculty and staff of the University.
Speaking during the University’s Friday Faculty Fellowship at the University Chapel, the Vice-Chancellor, Professor Abiodun Adebayo, announced the new development and noted that the decision by the Board to implement the pay raise was to serve as an intervention to cushion the adverse effect of increased inflation on the economy.
He appreciated the magnanimity of the Board of Regents of the University, led by the Chancellor, Dr. David Oyedepo, in making such a compassionate decision in alleviating the harsh economic state of the country for the University’s workforce.
He also congratulated members of faculty and staff for being fortunate to be part of this great initiative of the Board.
The new pay rise which took effect from September 2023, has boosted the morale and commitment of the Faculty and Staff of the University, and has engendered a fresh drive and vigour in the pursuit of its vision of raising a new generation of leaders and the actualization of its newly unfolded Vision 7-2030 agenda.