The Oyo State Government has announced the payment of a total of N5bn to the Osun State Government as part of the agreement for the sole ownership of the Ladoke Akintola University of Technology (LAUTECH), Ogbomoso.
Commissioner for Information and Orientation, Dotun Oyelade, revealed in a statement on Monday that the government has been paying N1bn annually since the agreement was finalized on November 20, 2020.
With a total takeover amount of N8bn, Oyelade affirmed that the state is on track to complete the remaining N3bn payment before the end of Governor Seyi Makinde’s administration in May 2027.
Last Thursday, Governor Makinde approved the latest release of N1bn to the Osun State Government, demonstrating the administration’s commitment to the agreement.
It will be recalled that the historic agreement between Oyo and Osun States in November 2020 ended years of acrimony over the joint ownership of LAUTECH, dating back to 2007. Since then, LAUTECH has undergone significant development, reclaiming its status as Nigeria’s best state university.
According to Oyelade, LAUTECH has expanded in scope and infrastructure, including the establishment of the Faculty of Agriculture and Natural Resources at its Iseyin campus. The governor also approved N650m as a take-off grant for the Teaching and Research Farm at the Iseyin campus.
Additionally, the state government has commenced simultaneous construction of health centers and road networks at the LAUTECH Iseyin campus, Abiola Ajimobi Technical University, Ibadan, and Emmanuel Alayande University of Education, Oyo.
Oyelade emphasized that the state government’s financial commitment underscores its determination to secure LAUTECH’s future and promote the institution’s academic excellence.
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