365NEWS gathered that the Oyo State Government has paid a total of N5 billion to the Osun State government in full compliance with the agreement on sole ownership of the Ladoke Akintola University, Ogbomoso.
The Commissioner for Information and Orientation, Dotun Oyelade, made this known in a release issued on Monday.
Oyelade said the total takeover amount is ₦8 billion, adding that the state government has been paying N1 billion per year.
He noted that the full payment should be settled before the end of the ‘Seyi Makinde-led administration in 2027.
The Commissioner recalled that both states struck a deal on November 20, 2020, to cede LAUTECH to Oyo state.
“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.
