Oyo to Pay Osun N1bn over LAUTECH Sole Ownership

Kemi Olaitan in Ibadan

The Chairman, Governing Council of Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, Prof. Deji Omole, yesterday said the Oyo State Government is prepared to pay the Osun State Government another N1billion on or before the first week of December out of the N8 billion contained in the asset sharing agreement.
This is just as he said the Oyo State Governor, Seyi Makinde, has also released the sum of N500 million to the institution as grant for the smooth take-off of the College of Agricultural Sciences and Renewable Natural Resources in Iseyin campus of the university.
Omole, who made the disclosures in a statement to mark the one year anniversary of the sole ownership of LAUTECH and six months of the inauguration the Governing Council of the institution, said Makinde has paid five out of eight months salaries owed workers of the institution before taking over the sole ownership of the institution, stating that the balance would be cleared in the next six months.
Oyo State became the sole owner of LAUTECH on November 20, 2020, following an agreement reached between the defunct owners of the school-Oyo and Osun States.
According to him, “Oyo State had already paid N1billion to Osun State, and earmarked another N1billion to be paid on or before the first week of December 2021. Oyo State had also liquidated five out of the eight months’ salary arrears being owned workers of the university. In addition, the Oyo State Government had released the sum of N500million to the institution has take-off grant for the
smooth running of the school. Indeed the capital expenditure for infrastructure development of the school has been budgeted for in the state 2022 Appropriation Bill. This is happening for the first time in the history of the institution.”
He added that the 25 per cent reduction in fees for students in the school as announced by Makinde would take effect from the 2022 session, urging students to reciprocate the gesture by staying focused and shun anti-social behaviours.
On the activities of the Council, Omole said it has been monitoring the finances of the university transparently to ensure prudent management of resources and reporting same to the governor, who is the Visitor to the institution.
He maintained that the investment of Makinde is already positioning LAUTECH as choice institution for those seeking admission, as 11, 300 candidates are to write post-JAMB examination as against 5, 000 in the 2017/2018 session.
In the area of training and manpower development, Omole stated that a staff audit has been carried out to ascertain the manpower needs of the university.