Abia State University, ABSU's financial distress is clearly getting out of hand forcing management to mull   a temporary closure until a solution is worked out.  This is coming against the background of continued uncertainty over   the much awaited  financial bailout from the State Government. The University's dire financial straits is such that it could not produce enough examination question papers and answer sheets for students during its  recently concluded examinations.

 ABSU  is also among the State's Ministries, Departments and Agencies, MDAs including  Health Management Board, ABSU Teaching Hospital, Aba, College of Education, Arochukwu, Abia State Polytechnic, Aba whose workers  are said to be owed salary arrears ranging from four to eight months.

TheLedger gathered that the University may not even be considered in the sharing of the N14 billion bail out fund received by the State Government from the Federal Government for payent of workers salary arrears.  The State Governor, Dr Okezie Ikpeazu gave a hint to this effect when during his visit to the School,  he  asked the school management to provide him with the number of students enrolled at the institution to enable him slash the schoo fees which ranges from  N120,000 to N150,000.

The tuition fees slash option is high in the governments consideration as fees forms the bulk of its revenue. However, that revenue source began drying up as the administration of  Senator Theodore Orji hiked the fees, and the situation forced prospective students to opt for  Federal Universities in nearby States for admission. Fees in the Federal institutions are considerably lower

Sources close to ABSU's authorities says the N120,000-N150,000/session per student must have contributed to the  low number  of students that applied to the School for the 2014/15 academic session.

“We lamented low turn-out during the 2014/15 session, but the 2015/16 happens to be the worst since the evolution of ABSU.

“Prospective students are fast deserting ABSU and the school authority seems to be at loss on how to remedy the situation presently as the issue of reduction or increment as regards tuition fee is the prerogative of the state government,” the source which pleaded anonmity said.

ABSU was established as Imo State University  in 1981 by  late Chief Sam Mbakwe, then governor of old  Imo State. On splitting of the State into Imo and Abia States in 1991, the university  was ceded to Abia State  and re-christened ABSU.