Oyo Govt pays Osun N5bn for LAUTECH sole ownership

By Adejayan Gbenga

As part of the agreement to take over the Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, the Oyo State Government has paid a total of ₦5 billion to the Osun State Government.

The Commissioner for Information, Prince Dotun Oyelade, disclosed on Monday that the total takeover amount was ₦8 billion. He added that Oyo State has been paying ₦1 billion annually, with the full payment expected to be completed before the end of Governor Seyi Makinde’s administration in 2027.

According to Oyelade, both states reached an agreement on November 20, 2020, to cede sole ownership of the institution to Oyo State.

He recalled that the joint ownership of LAUTECH was fraught with acrimony between both states from 2007 to 2019. However, when Governor Makinde assumed office, an agreement was surprisingly reached with his Osun counterpart to transfer full ownership to Oyo State.

“Ever since, the institution has grown in leaps and bounds, reclaiming its position as the best state university in Nigeria,” Oyelade said.

He noted that beyond academic excellence, LAUTECH has expanded physically and in scope with the establishment of the Faculty of Agriculture and Natural Resources at the Iseyin campus.

The Commissioner further revealed that just last Thursday, Governor Makinde approved the release of ₦1 billion to the Osun State Government, in addition to ₦650 million as a 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 the LAUTECH Iseyin campus, the Abiola Ajimobi Technical University in Ibadan, and the Emmanuel Alayande University of Education in Oyo,” he added.