Due to a meager salary, a lecturer at UNIPORT has declined a loan of N5 million
Mazi Eze, a lecturer at the University of Port Harcourt's Department of English, recently shared his dismay after being denied a N5 million loan due to his monthly salary of N191,000.
In a Facebook post on Thursday, Eze recounted his visit to First Bank, Choba, where he sought financial support for his Public Speaking Academy Limited and the acquisition of social media gadgets. However, his account officer informed him that his salary did not meet the requirements for the requested loan.
Expressing his frustration, Eze highlighted the challenges faced by academic staff members at the institution, emphasizing the considerable salary disparity compared to counterparts in other universities who reportedly earn monthly incomes ranging from N230,000 to N250,000.
He expressed his disappointment, stating, "Yesterday, my UNIPORT salary dealt me a significant blow!"
"I visited First Bank, Choba, with the intention of borrowing N5 million. My account officer, a cheerful lady, informed me, 'We cannot approve a loan for that amount.' Curious, I inquired, 'Why?'
"'Your salary isn't sufficient for such a loan. Let me check.' She clicked away on her desktop computer and remarked, 'Your salary is N191,000. We can only offer you a loan of around 1 point something million, repayable within three years.'"
I shook my head and responded, "I'm not looking for 1 point something million. I require N5 million to fully equip my Public Speaking Academy Limited and purchase essential gadgets for my social media engagements."
The lady expressed, "Apologies, Sir, but your salary is insufficient for this." On that day, I left without securing the loan, feeling disheartened, frustrated, and upset. Despite my decade-plus experience as a lecturer at UNIPORT, holding a PhD, my take-home pay remains at N191,000.
Colleagues at my salary scale in Federal Polytechnic, Nekede, Bori Polytechnic, and Rivers State University reportedly receive monthly incomes ranging from N230,000 to N250,000. In this challenging economic climate, N230,000 to N250,000 monthly seems meager.
Contrastingly, at UNIPORT, a federal university, the monthly salary stands at N191,000. I question whether this is unique to UNIPORT or if other federal universities in Nigeria follow the same salary scale.
Looking ahead, with determination and diligence, I aspire to become a professor in the next six to eight years, and yet, the anticipated salary increase to a meager N440,000 monthly leaves me feeling weary and disheartened.
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