LAUTECH Sole Ownership: Makinde Sets To pay Osun 1billion, Releases 500m For Iseyin Campus Take-off.

Chairman Governing Council Ladoke Akintola University of Technology (LAUTECH), Professor Deji Omole on Sunday stated that Governor Seyi Makinde led government is set to pay Osun State Government another 1billion naira on or before first week of December to make a total of two Billion Naira out of the 8billion contained in the asset sharing agreement.

Professor Omole also stated that Governor Seyi Makinde has also released the sum of 500million naira to LAUTECH as grant for the smooth take-off of the college of Agricultural Sciences and Renewable Natural Resources in Iseyin Campus of the University.

In a one year anniversary pronouncement of the sole ownership of LAUTECH and Six months of the inauguration the Governing Council of the Institution, Professor Omole stated that Governor Makinde has paid five out 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, 2021 following agreement reached between the defunct owners of LAUTECH: Oyo and Osun States.

“Oyo state had already paid one billion naira to Osun State and airmarked another one billion to be paid on or before the first week of December, 2021. Oyo State has liquidated five out of the eight months salary arrears being owned workers of the University. In addition the Oyo State government had released the sum.of 500million naira 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.”

Furthermore, Omole added that the 25%percent reduction in fees for students in the school as announced by Governor Seyi Makinde will take effect from the 2022 session urging students to reciprocate the gesture by staying focused as shunning anti-social behaviours.

The Chairman of the LAUTECH Council further hinted that the Council has been monitoring the finances of the University Transparently to ensure prudent management of resources and reporting same to the visitor which is Governor Seyi Makinde.

According to him, the investment of Governor Makinde is already positioning LAUTECH as choice institution for those seeking admission as 11, 300 candidates are to write post JAMB examination as against 5, 000 in the 2017/2018 session.

In the area of training and manpower development, Professor Omole stated that a staff audit has been carried out to ascertain the manpower needs of LAUTECH.

“We are hoping to inject new blood because LAUTECH is top heavy and this does not give room for mentorship and successor plan. We have done staff audit. We have also established collaboration with University of Botswana and Oyo state government has resolved to patronise them for consultancy”

While saying the last one year of sole ownership has shown a promising future, Professor Omole appeals to staff of the institution to be patient with the government in its effort towards repositioning it and entrenching it as center of excellence.