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Makinde To Pay Osun N1b For Sole Ownership Of LAUTECH


The Chairman, Governing Council, Ladoke Akintola University of Technology (LAUTECH), Prof. Deji Omole, said yesterday that Oyo State Governor Seyi Makinde is set to pay Osun State Government another N1billion on or before first week in December to make a total of N2billion out of the N8billion contained in the asset sharing agreement.

He said Governor Makinde has released N500million to LAUTECH as grant for the take-off of the College of Agricultural Sciences and Renewable Natural Resources at Iseyin campus of the university.

At a one year anniversary pronouncement of the sole ownership of LAUTECH and six months of the inauguration of the Governing Council of the institution, Prof. Omole said Governor Makinde had paid five 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 an agreement reached between the defunct owners of LAUTECH: Oyo and Osun states.

“Oyo State has already paid N1billion to Osun State and earmarked another N1billion to be paid on or before the first week of December, 2021. Oyo State has liquidated five of the eight months’ salary arrears being owed workers of the university.


“In addition, the Oyo State Government has released N500million 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.”

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

The chairman of the LAUTECH Council further hinted that the Council had been monitoring the finances of the university transparently to ensure prudent management of resources and reporting same to the visitor, who is Governor Makinde.

According to him, the investment of Governor Makinde is already positioning LAUTECH as a choice institution for those seeking admission, as 11, 300 candidates are to write post Unified Tertiary Matriculation Examination (UTME), as against 5, 000 in the 2017/2018 session.

In the area of training and manpower development, Prof. said a staff audit has been carried out to ascertain the man