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LAUTECH: Oyo to pay Osun N8b as asset-sharing agreement



OYO State Government has approved the payment of N8billion to the Osun State Government as part of the agreement reached for the sole ownership of  Ladoke Akintola University of Technology (LAUTECH), Ogbomosho.

   The money, according to the Oyo Government is to be paid in four installments over a period of three years.

The disclosure was made on Tuesday, during a press briefing after the weekly State Executive Council meeting which held at the Executive Chamber of the Governor’s Office, Agodi, Ibadan.

The exco meeting, which was presided over by the President of Council, Governor Seyi Makinde was the first to hold in 2021.

Speaking, the Education Commissioner, Mr Olaleye said the amount was the outcome of asset sharing between the two states when the ownership crisis issue was resolved in favour of Oyo State.

He said: “As a follow up to the agreement reached with the Osun State Government on the issue of sole ownership of LAUTECH, the Executive Council of Oyo State approved the payment of the sum of N8billion to Osun State Government and it will be paid over a period of three years.

“The breakdown of the payment is as follows, N1billion is to be paid in January 2021, another N1billion to be paid in December 2021. N3billion is to be paid in 2022 and the last N3billion is in 2023.

“The money is not to be paid as a lump sum but in installments. The money is once and for all. What we are having now is a total package and all other things have been taken care of. If there are liabilities, they have been taken care of at both ends and everything has been packaged into this sharing.”

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