The pandemic affected the income flow of The Federal Polytechnic, Bauchi, as activities shut down nationally the previous year.
Disclosing this was the Managing Director of the Polytechnic Consultancy Services Limited, Ibrahim Labaran, to journalists on Tuesday.
Labaran said that the “cash cow” of the institution, a hotel, was without business during the duration.
He added that the average revenue of the institution, from its business arm, amounted to N200 million yearly.
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He said, “Across our business arms in 2017, we were able to generate N105 million, in 2013 it was about N270million, 2014 was N232million, 2016 was N224million but the average is about N200million turnover annually.
“In 2020, we were badly affected by the pandemic because nothing was moving. There was a lockdown and our hotel, which is one the cash cows, did not record a single guest for three months. Our hotel staff were idle but were able to pay them. There was no turnover during the period.”
During the period, Labaran shared, the institution tackled mounting pressure from staff over unpaid allowances.
