OAUSTECH Chairman of the union, Dr Dipo Akomolafe, presented the award to the beneficiaries on Tuesday at the school's permanent site at Okitipupa.
The award recipients were Mrs Funmilola Ojo and Mr Adewale Akinsade.
Each of them received N250,000 as the value of the award.
NAN reported that the award is given annually by ASUU to its members carrying out research for a Doctor of Philosophy programme in any discipline.
Dipo congratulated the winners, saying that their sterling performances earned them recognition.
He expressed satisfaction that of the three people who won the award, two were from OAUSTECH.
He said that the award recipients' researches were comprehensive, of high quality and relevant to Nigeria's development.
"Today is a remarkable day in the history of ASUU OAUSTECH because two of our members won because of the quality of their researches and the relevance to Nigeria's economic, social and technological advancement.
"I congratulate them for this deserved honour, and urge them to use the monetary reward strictly for the purpose of the award and be determined more than before and come up with a reliable output from their researches," he said.
Reacting to the award, Ojo, a lecturer in OAUSTECH School of Agricultural Sciences, said that she felt honoured by the award.
"I appreciate the national body of ASUU and our branch chairman for efforts.
"I am grateful for this wonderful assistance, and promise to use the fund judiciously to get my research published in reputable journals," Ojo said.
Also, Akinsade, a lecturer in the university's School of Engineering, said that he was excited at the development.
"I really appreciate the national body of ASUU and our branch for this great assistance toward my study.
"I will apply the money toward my study,'' he said.
Ojo embarked on research with the topic: "Botanical, Genetic and Cytogenetic Studies of Andropogon Gayanus- Andropogon Tectorum Complex in South-Western Nigeria".
Akinsade's research topic is: "Development of Laboratory Scale Table Top Pyrolysis Reactor for Bio-energy Production".