Oyo State Government has approved the payment of the sum of N8bn to the Osun State Government as an asset sharing agreement for taking over the ownership of the Ladoke Akintola University of Technology, Ogbomoso.
Commissioner for Education, Mr Olasunkanmi Olaleye, said the amount would be paid in three instalments over a period of three years.
Chief Press Secretary to Governor Seyi Makinde of Oyo State, Mr Taiwo Adisa, disclosed this in a statement on Tuesday.
The statement partly read, “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 N8bn to the Osun State Government. It will be paid over a period of three years.
“The breakdown of the payment goes as follows: N1bn will be paid in January 2021 and another N1bn will be paid in December 2021; N3bn will be paid in 2022 and the last N3bn will be paid in 2023. This was the decision of the council today.”