Covenant University, Ota, Ogun State has begun the implementation of the newly approved Consolidated University Academic Salary Structure for its academic staff.



The Chancellor of the university, Dr. David Oyedepo, told journalists in Ota on Tuesday that the implementation of the new salary structure was facilitated by a special grant from the proprietors of the university, the Living Faith Church Worldwide Inc., and would therefore not translate into students paying higher tuition.



The CUSS was part of the agreement reached by both the Federal Government and members of the Academic Staff Union of Universities in October last year, following a protracted strike by the union over welfare issues.



Apart from the new salary structure, Oyedepo, who is also the Presiding Bishop of the Living Faith Church worldwide, said that Covenant University had approved a special stimulus package for members of the academic staff, to advance its quest of attaining world-class status.



These incentives, according to him, include a special publication allowance, patent allowance, book contributions, incentives for forging quality linkages and special mentoring incentives.



Under the special publication incentive, the university chancellor said, “Publications in high impact journals shall attract generous financial incentives; publications in Grade A international journals shall attract $1,000; while those in Grade B attract $500; and Grade C attract $200. Grade A local journal attracts N50,000; Grade B, N30,000 and Grade C, N15,000.’’



He explained that authors of books published by the university would be entitled to royalties, provided the publication policy requirements of the institution were met. He added that such publications would attract special grants of N200, 000.



As for inventors with duly registered patents, he said such inventions would attract a cash reward of N300, 000 outside royalties.



Identifying lack of character and capacity as the major factors working against good governance in Nigeria, Oyedepo said, “Most of our leaders bought their way to leadership, so there is a major capacity problem. Our leaders lack capacity and character, and the combination of these problems is responsible for our crippled economy.”



http://www.punchng.com/Articl.aspx?theartic=Art20100602561193

Its high time he did that.It is no news that Winners don't pay their workers good.Increasing lecturers pay should have been done long time ago.