Oyo State Government has taken a further step for its acquisition of the Ladoke Akintola University of Technology (LAUTECH), Ogbomosho ,with approval of payment of N8billion to the joint owner, the Osun State Government.
The payment is as part of the agreement reached for the sole ownership of the University whose assets had been shared between the two states .
The State Education, Science and Technology Commissioner Mr Olasunkanmi Olaleye who made this known to newsmen on Tuesday at the Governor's office ,Agodi, Ibadan, explained that the money would be paid in four instalments over three years.
Olaleye at the end of the weekly State Executive Council Meeting, added that the amount is the outcome of asset sharing between the two states when the ownership crisis issue was resolved in favour of Oyo State.
His words, “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 N8billion to Osun State Government and it will be paid over three years.”
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