The Oyo State Government has confirmed the payment of ₦5 billion to Osun State as part of the ₦8 billion agreement reached in 2020 for the sole ownership of Ladoke Akintola University of Technology (LAUTECH), Ogbomoso.
This was disclosed on Monday by the Commissioner for Information and Orientation, Dotun Oyelade, in a statement detailing the state government’s commitment to fulfilling the terms of the transfer agreement.
The arrangement, formalised on November 20, 2020, ceded full ownership of the institution to Oyo State following years of joint control and protracted governance disputes between the two states.
According to Oyelade, the Makinde-led administration has paid ₦1 billion annually since the agreement was signed, bringing the current payment to ₦5 billion.
The remaining ₦3 billion is expected to be fully paid before the end of Governor Seyi Makinde’s tenure in 2027.
“The joint ownership of LAUTECH had been fraught with administrative and financial challenges from 2007 to 2019. However, under Governor Makinde’s leadership, a historic resolution was reached with the Osun State Government, which led to the full transfer of ownership to Oyo State,” the statement said.
Since the resolution, LAUTECH has witnessed significant academic and infrastructural development. It has been ranked as the best state university in Nigeria with improvements in institutional governance, academic programs and physical expansion.
Oyelade also highlighted the government’s commitment to furthering the university’s growth with the establishment of the Faculty of Agriculture and Natural Resources at the Iseyin campus.
He confirmed that alongside the ₦1 billion payment to Osun last week, Governor Makinde approved an additional ₦650 million as a take-off grant for the Teaching and Research Farm project at the Iseyin campus.
The state government has also commenced the construction of road infrastructure and health centres at the Iseyin campus. Similar development initiatives are ongoing at the Abiola Ajimobi Technical University in Ibadan and the Emmanuel Alayande University of Education in Oyo.
“These projects align with the administration’s strategy to reposition the state’s tertiary education landscape and create a sustainable academic environment that supports innovation, research and economic development,” Oyelade stated.
The LAUTECH acquisition deal is widely seen as a landmark achievement for the Makinde administration and a turning point in the university’s governance structure.
Stakeholders in the education sector have commended the proactive fiscal commitment of the Oyo State Government and its long-term plan to consolidate the university’s status as a centre of excellence.
With ₦5 billion already paid and a clear roadmap for the settlement of the outstanding balance, Oyo State is on track to complete the financial obligations tied to LAUTECH’s ownership transition before 2027.
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