Oyo Pays Osun ₦5bn Over LAUTECH Ownership Agreement
The Oyo State Government has disbursed a total sum of ₦5 billion to the Osun State Government as part of the terms agreed upon in the transfer of sole ownership of Ladoke Akintola University of Technology (LAUTECH), Ogbomoso.
This was disclosed on Monday in a statement signed by the Oyo State Commissioner for Information and Orientation, Dotun Oyelade.
Oyelade stated that the total amount due to Osun under the 2020 agreement is ₦8 billion, with Oyo remitting ₦1 billion annually.
According to him, the payment is expected to be completed before the end of Governor Seyi Makinde’s tenure in 2027.
He said, “The joint ownership of LAUTECH by both states had been fraught with controversies from 2007 until Governor Makinde assumed office in 2019. Surprisingly, an agreement was reached on 20 November 2020 between both states, making Oyo the sole proprietor of the institution.”
The commissioner added that since the resolution of the ownership impasse, LAUTECH has witnessed significant improvements both academically and structurally.
“Ever since, the institution has grown in leaps and bounds, reclaiming its place as the Best State University in Nigeria,” Oyelade noted.
He further highlighted developments at the LAUTECH Faculty of Agriculture and Natural Resources, Iseyin campus, where Governor Makinde recently approved ₦650 million as a take-off grant for its Teaching and Research Farm.
“Last Thursday, the governor not only released ₦1 billion to Osun State but also approved ₦650 million for the Iseyin campus. In addition, the state government has commenced construction of health centres and road networks at the campus, as well as at Abiola Ajimobi Technical University, Ibadan, and the Emmanuel Alayande University of Education, Oyo,” he added.
The commissioner reiterated the Makinde administration’s commitment to infrastructural development and educational advancement across the state.
Sodiq Lawal is a passionate and dedicated journalist with a knack for uncovering captivating stories in the bustling metropolis of Osun State and Nigeria at large. He has a versatile reporting style, covering a wide range of topics, from politics , campus, and social issues to arts and culture, seeking impact in all facets of the society.
