HomeEducationEdu-NewsLAUTECH: Makinde set to pay Osun 1bn over sole ownership

LAUTECH: Makinde set to pay Osun 1bn over sole ownership

Governor Seyi Makinde-led government in Oyo State is set to pay Osun State Government another N1 billion on or before first week of December, this year, to make a total of N2 billion out of the N8billion contained in the asset sharing agreement over sole ownership of Ladoke Akintola University of Technology (LAUTECH), Ogbomoso.

Chairman Governing Council, LAUTECH, Prof Deji Omole, made the disclosure on Sunday to mark one year anniversary of the pronouncement of the sole ownership of LAUTECH by the National University Commission (NUC), and six months of the inauguration the Governing Council of the Institution.

He said Makinde has also released N500 million as  grant for the smooth take-off of the College of Agricultural Sciences and Renewable Natural Resources in Iseyin Campus of the university.

Omole stated that Makinde has paid five out of eight months salaries owed workers of the institution before taking over the sole ownership of the institution, envisaging that the balance would be cleared in the next six months.

Oyo state became the sole owner of LAUTECH on November 20, 2021 following agreement reached between the defunct owners of LAUTECH: Oyo and Osun States.

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“Oyo state had already paid N1 billion to Osun State and earmarked another N1 billion to be paid on or before the first week of December, 2021. Oyo State has liquidated five out of the eight months salary arrears being owned workers of the university.

“In addition, the Oyo State Government had released the N500 million to the institution as 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 2022 appropriation bill. This is happening for the first time in the history of the institution.”

He announced that the 25 per cent reduction in fees for students in the school, as announced by Makinde would take effect from the 2022 academic session, urging students to reciprocate the gesture by staying focused as shunning anti-social behaviours.

Chairman  of the LAUTECH Council said the council has been monitoring the finances of the university transparently to ensure prudent management of resources and reporting same to the visitor which is Governor Seyi Makinde.

According to him, the investment of Governor 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. Omole said a staff audit has been carried out to ascertain the manpower needs of LAUTECH.

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