The Oyo state Government today approved the payment of N8 billion to Osun State Government as an asset sharing agreement following the severing of Osun State from the ownership of Ladoke Akintola University of Technology (LAUTECH).
This was revealed by the Commissioner for Education, Barrister Olasunkanmi Olaleye, who noted that the money would be paid in three installments spread over three years.
According to a statement signed by Taiwo Adisa, the Chief Press Secretary to Governor Seyi Makinde, the Commissioner for Education, Olasunkanmi Olaleye 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 today the payment of the sum of N8 billion to Osun State government. It will be paid over a period of three years”.
He said, “The breakdown of the payment goes as follows: one (1) billion Naira will be paid in January 2021 and another one (1) billion Naira will be paid in December 2021. Three (3) billion Naira will be paid in 2022 and the last three (3) will be paid in 2023. This was the decision of the council today”.
