The seasoned Senior Advocate of Nigeria SAN also promised to support academic excellence through the encouragement of hard work amongst the students.
Mr Tunde Olofintila, Head Corporate Affairs of the university on Friday made this known in a statement made available to newsmen in Ado Ekiti, saying Babalola revealed this while addressing the university’s Senate at a special session.
The money, according to Babalola, was the total accumulation of what he sIthe five undergraduate colleges, for the best student among the freshers, including the poorest student among the freshers, making a total of ten students, to start with.
He said part of the scholarship package would include, free tuition and $5,000 in addition.
” This is in addition to the annual prizes which we instituted as far back as 2013. Under that scheme, we have been giving annual prizes.
The categories include any student who scored 4.5 GPA goes home with N100,000, student who scored 4.8 GPA takes N250,000 while the one that scores 5.0, gets N500,000.
Babalola said: “the University is interested in staff welfare. And that is why on salary, we have analysed and collated salaries of teachers at all levels in private, state and federal universities.