The Oyo State government has paid a total of N5 billion to Osun State as part of the financial agreement on the full transfer of ownership of Ladoke Akintola University of Technology (LAUTECH), Ogbomoso. This payment is part of a broader N8 billion deal made between both states.
This was revealed on Monday by the Commissioner for Information and Orientation, Dotun Oyelade, through an official statement. According to him, Oyo State has remained consistent in fulfilling its financial obligation by paying N1 billion annually to Osun State since the agreement was reached.
Oyelade noted that the outstanding balance would be cleared before the end of Governor Seyi Makinde’s tenure, which ends in 2027.
He also recalled that the agreement between Oyo and Osun States regarding the ownership of LAUTECH was formalized on November 20, 2020. The deal brought an end to several years of disputes between the two states over the university’s joint ownership.
“The joint ownership of LAUTECH was acrimonious between the governments of the two states from 2007 to 2019 when Governor 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,” the Commissioner added.
According to Oyelade, 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.
“Last week Thursday, just as Governor Makinde approved the release of ₦1 billion to the Osun State Government, he also released ₦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 LAUTECH Iseyin campus, the Abiola Ajimobi Technical University, Ibadan and the Emmanuel Alayande University of Education, Oyo,” Oyelade said.
