Wednesday, 20 January 2021 05:26

Oyo to pay Osun N8bn settlement for LAUTECH takeover

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Oyo State Government, yesterday, approved N8 billion to be paid to Osun State Government, which formed part of assets sharing negotiation reached between the two states during the negotiation for the sole ownership of Ladoke Akintola University of Technology (LAUTEH), Ogbomoso.

The crisis of interest between the two state governments over ownership of the university, was finally laid to rest, as National Universities Commission (NUC), ceded the institution to Oyo State Government in November 2020.

The intercessor, NUC, also ceded the College of Health Sciences, located in Osogbo, to Osun State. Executive Secretary of NUC, Abubakar Rasheed, made the announcement in Abuja, where he clarified that the administrative and other remuneration costs would be borne by Oyo State Government, while the Osun State Government would bear the financial burden of the College of Health Sciences.

LAUTECH in Ogbomosho was established in 1990 by the old Oyo State Government with the main campus located in Ogbomoso, Oyo State, while the teaching hospital was established in Osogbo, now Osun State capital.

The mode of payment was reached after the state’s Executive Council meeting held at the Governor’s Office, Agodi, Secretariat, Ibadan.

While briefing the Governor’s Office correspondents after the meeting, Commissioner for Education, Science and Technology, Olasunkanmi Olaleye, revealed the mode of payment to Osun state government.

He said: “On the issue of LAUTECH, Oyo State Government at its Executive Council Meeting has approved N8 billion to be paid to Osun State Government which formed part of assets sharing negotiation reached.”

“We will pay N1bn in January 2021, another N1bn in December 2021, while N3bn will be paid in 2022 and the remaining N3bn will be paid in 2023.”

 

Vanguard