LAUTECH takeover: Oyo approves payment of N8bn asset sharing agreement to Osun

From Oluseye Ojo, Ibadan

Oyo State Government has approved payment of N8billion to Osun State Government in fulfillment of agreement reached between the two states, following the cedeing of full ownership of the institution, established in 1990, to Oyo State.

The N8billion formed part of the assets sharing agreement during negotiation for the sole ownership of the university. The negotiation was presided over by the National University Commission (NUC).

Commissioner for Education, Science and Technology in Oyo State, Mr. Olasunkanmi Olaleye, disclosed this when he briefed journalists at the end of this week’s executive council meeting held on Tuesday in Ibadan.

He stated that the council also agreed on the mode of payment of the sum, which has been spread over three years.

Olaleye said: “We will pay N1billion in January 2021, another N1billion in December 2021. While N3billion will be paid in 2022, the remaining N3billion will be paid in 2023.”

The ownership crisis that rocked the university started in 2010 and cpuld not be resolved until the NUC stepped in and finally ceded the main campus of the institution in Ogbomoso to Oyo State and LAUTECH Teaching Hospital, Osogbo to Osun State in November 2020.

The Executive Secretary of NUC, Prof Abubakar Rasheed, had when he made the announcement on the sole ownwership in Abuja, stated that the administrative and other remuneration costs would be borne by the Oyo State Government.

He also said  the Osun State Government would take care of the financial burden of the College of Health Sciences in Osogbo.


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