Oyo state takes full ownership of LAUTECH

Oyo State has taken full ownership of the Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, ending a long disagreement with Osun state.

The institutions College of Health’s ownership has been transferred to Osun state.

Oyo state takes full ownership of LAUTECH

The Executive Secretary of the National Universities Commission, Abubakar Rasheed disclosed this in a press briefing in Abuja on Friday. He said;

“The mutually agreed dissolution was formalised through the signing of a memorandum of agreement by the executive governors of Oyo and Osun States witnessed by the attorneys general of both states, giving legal effect to the transfer of ownership of LAUTECH to the government of Oyo State and the College of Health Sciences, Osogbo to the government of Osun State.

“In a bid to achieve an equitable and mutually agreeable dissolution of the joint ownership of LAUTECH by Osun and Oyo States, in the overall interest of the university and in consonance with the stipulations of the legal framework which had been adopted by both states, the tripartite committee critical activities, namely:

“Reevaluation and updating of the assets and liabilities of the university by relevant professionals from Osun and Oyo States in order to ascertain their current values.

“Forensic audit of LAUTECH, Ogbomoso, and the University Teaching Hospital, Osogbo from inception to date by the audit firm of Deloitte and Touche: and delineation of assets and liabilities for sharing by the two owner states of Oyo and Osun States.”

LAUTECH was established in 1990 by the old Oyo State Government with the main campus located in Ogbomoso.

The teaching hospital was subsequently established in Osogbo. When Osun State was carved out of the old Oyo State in 1991, both states became joint owners of the institution.

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