Oyo government remits ₦5bn from agreed ₦8bn for full LAUTECH ownership
The Oyo State Government has announced that it has paid ₦5 billion of the ₦8 billion it agreed to pay the Osun State Government to gain full control of Ladoke Akintola University of Technology (LAUTECH), located in Ogbomoso.
This was revealed in a statement by the State Commissioner for Information and Strategy, Prince Dotun Oyelade, who explained that the payment was being made in instalments of ₦1 billion each year.
It was further noted that the total payment would be completed before the tenure of the current administration ends.
The statement referenced an agreement made on 20th November 2020, where both states decided to transfer full ownership of LAUTECH to Oyo State.
“The joint ownership of LAUTECH was acrimonious between the governments of the two states from 2007 to 2019, when Governor Seyi Makinde took over and surprisingly reached an agreement with his Osun counterpart to make Oyo the sole owner of the institution.”
“Ever since, the institution has grown in leaps and bounds, reclaiming its position as the best state university in Nigeria.”
“Despite the academic excellence in the wake of this development, LAUTECH has also expanded physically and in scope, with the establishment of the LAUTECH Faculty of Agriculture and Natural Resources, Iseyin Campus.”
It was also disclosed that Governor Makinde has approved ₦650 million as a start-up fund for the Teaching and Research Farm at the Iseyin Campus.
Additionally, the government has simultaneously started building health centres and roads at several locations, including LAUTECH Iseyin Campus, the Abiola Ajimobi Technical University in Ibadan, and the Emmanuel Alayande University of Education in Oyo.
