Oyo to pay N1bn to Osun over LAUTECH sole ownership

The Oyo State Government will pay a sum of N1billion to Osun state by the first week of December as part of the N8billion contained in the asset sharing agreement, the Chairman Governing Council Ladoke Akintola University of Technology (LAUTECH), Professor Deji Omole said on Sunday.

 He said the N1billion would make it a total of two billion naira out of 8 billion naira contained in the asset sharing agreement.

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 Professor Omole said Governor Seyi Makinde had also released the sum of 500million naira to LAUTECH as grant for the smooth take-off of the College of Agricultural Sciences and Renewable Natural Resources in Iseyin Campus of the University.

 In a one-year anniversary pronouncement of the sole ownership of LAUTECH and six months of the inauguration of the Governing Council of the institution, Professor Omole said Governor Makinde had 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, 2020, following the agreement reached between the defunct owners of LAUTECH: Oyo and Osun States.