Oyo State Government on Tuesday approved the sum of N8b to be paid to the Government of Osun as part of assets sharing agreement reached between the two states during negotiation for the sole ownership of Ladoke Akintola University of Technology (LAUTECH) , Ogbomoso.
The ownership crisis between Oyo and Osun state governments over LAUTECH was finally laid to rest, as the National Universities Commission (NUC), ceded the institution to Oyo State in November, 2020.
As part of the agreement, the College of Health Sciences, located in Osogbo, was ceded to Osun State.
Executive Secretary of NUC, Professor Abubakar Rasheed also stated that the administrative and other remuneration costs would be borne by the Oyo State Government, while the Osun State Government would bear the financial burden of the College of Health Sciences.
LAUTECH was established in 1990 by the old Oyo State government with the main campus located in Ogbomosho, Oyo State, while the teaching hospital was established in Osogbo, now Osun State capital.
The decision on the payment to Osun was reached after the State Executive Council meeting held at the Governor’s office, Agodi – Ibadan.
While briefing journalists after the meeting, the Commissioner for Education, Science and Technology, Barrister Olasunkanmi Olaleye revealed the mode of payment to the Osun state government.
He said: “As a follow up to the agreement reached with the Osun State government on the issue of sole ownership of LAUTECH, the Executive Council of Oyo State approved today the payment of the sum of 8billion Naira to Osun State government. It will be paid over a period of three years.
“The breakdown of the payment goes as follows: N1bn will be paid in January, 2021 and another N1bn will be paid in December 2021. N3b will be paid in 2022 and the last N3b will be paid in 2023. So, that was the decision of the council today.”
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