The Oyo State government has so far paid a total of ₦5 billion to Osun State government in its bid to take over the sole ownership of Ladoke Akintola University of Technology (LAUTECH), Ogbomoso.
The state Commissioner for Information, Prince Dotun Oyelade, made the disclosure in a statement on Monday.
He added that the payment of the ₦5 billion was in full compliance with the agreement of sole ownership of the institution between the two state governments.
The Commissioner for Information stated that the total takeover amount is ₦8 billion, adding that the Oyo State government has been paying ₦1 billion per year.
He expressed optimism that the full payment of ₦8 billion should be settled before the end of the ‘Seyi Makinde-led administration in 2027.
Prince Oyelade recalled that the two state governments struck a deal on 20 November, 2020 to cede LAUTECH to Oyo State.
He stated that the joint ownership of LAUTECH was acrimonious between governments of the two states from 2007 to 2019 when Governor. Makinde took over.
Oyelade noted that, surprisingly, the Oyo State governor reached an agreement with his Osun State 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.
“”The academic excellence in the wake of this development notwithstanding, LAUTECH has also expanded physically and in scope with the establishment of the LAUTECH Faculty of Agriculture and Natural Resources, Iseyin Campus,” he added.
The commissioner revealed that, just as Governor Makinde approved the release of ₦1 billion to the Osun State government, last Thursday, he also released ₦650 million as take-off grant for the Teaching and Research Farm at the Iseyin Campus.
“The government has also commenced, simultaneously, the construction of health centres and road networks at LAUTECH Iseyin campus, the Abiola Ajimobi Technical University, Ibadan and the Emmanuel Alayande University of Education, Oyo,” Oyelade stated.
