Chairman of the Governing Council, Ladoke Akintola University of Technology, Prof. Deji Omole, on Sunday said that the Oyo State Governor Seyi Makinde-led administration would on or before the first week of December, 2021 pay Osun State government another N1 billion.
The chairman said the N1 billion payment will make it a total of N2 billion out of the N8 billion as contained in the asset-sharing agreement.
Also, Omole said that Makinde had released N500 million 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.
He said that during the first anniversary pronouncement of the sole ownership of LAUTECH and six months of the inauguration of the governing council, Makinde had paid five out of eight months salaries owed workers 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 an agreement reached between the defunct owners of LAUTECH, Oyo and Osun states.
“Oyo State has already paid N1 billion to Osun State and earmarked another N1 billion to be paid on or before first week of December 2021. It has liquidated five out of the eight months salary arrears being owed workers of the university.
“Indeed, the capital expenditure for infrastructure development of the institution has been budgeted for in the 2022 Appropriation Bill. This is happening for the first time in the history of the institution,” Omole said.
“25 per cent reduction in fees for students in the school as announced by Makinde would take effect from the 2022 session. He urged the students to reciprocate the gesture by staying focused and shunning anti-social behaviours,” Omole added.
He added that the council had been keeping tab on the finances of the university, transparently to ensure prudent management of resources and reporting to the Visitor, Governor Makinde.
In the area of training and manpower development, Omole said a staff audit had been carried out to ascertain the manpower needs of LAUTECH.
Omole, however, pleaded to members of staff of the institution to be patient with the government in its effort towards repositioning it and establishing it as a centre of excellence.