Osun state Governor, Adegboyega Oyetola, has released the sum of N470,000,000 million as part of the contribution to the joint ownership of Ladoke Akintola university of Technology, LAUTECH.
Oyetola had last week inaugurated a five-man panel to negotiate Osun State’s rights and privileges in the joint ownership of LAUTECH.
This was contained in a letter addressed to the chairman of the University’s council, signed by the Osun Commissioner for Finance, Bola Oyebamiji, a copy of which was sighted by our Correspondent.
It was gathered that the release of the fund was in line with the earlier agreement reached at a meeting in Abuja between the Oyo State Governor, Seyi Makinde and Governor Oyetola of Osun on the need to ensure “financial stability and sustainability” of the institution.
The two governors had met in Abuja two weeks ago at the instance of the Chairman of the University’s Governing Council, Professor Oladapo Afolabi, to chart a way forward for the University.
Part of the understanding reached at the said meeting was the setting up of a 10-man committee, five from each state, to look at all the issues surrounding the joint ownership agreements and proffer lasting solutions to the challenges.
While Osun, last week, empaneled its own committee, led by Professor Olu Aina, Oyo is yet to inaugurate its own committee.
As a follow up to the understanding reached at the said meeting, Osun on Wednesday again released funds for both the University and the teaching hospital in Osogbo.
The breakdown of the amount indicates that the sum of N250,000,000 million will go to the University, in Ogbomoso, and N222,000,000 million will go to the Teaching Hospital, Osogbo, for payment of salaries.
The letter reads in part: “I wish to inform you that the State Government of Osun has paid the sum of Two Hundred and Fifty Million Naira Only (N250,000,000.00) to Ladoke Akintola University of Technology, Ogbomoso in line with the agreement earlier reached by Governors Gboyega Oyetola of Osun and Seyi Makinde of Oyo (the two owner states) in Abuja to ensure financial stability and sustainability of the institution.
“It is also worthy of note that the State Government of Osun has released the sum of Two Hundred and Twenty-two Million Naira Only (N222, 000,000.00) to Ladoke Akintola University of Technology Teaching Hospital, Osogbo for payment salaries which brings the total funds released to the University to Four Hundred and Seventy-two Million Naira Only (N472, 000, 000.00).”
