Oyo has approved payment of N8bn to Osun as part of agreements reached for the sole ownership of the Ladoke Akintola University of Technology (LAUTECH), Ogbomosho.
The money, according to the Oyo government is to be paid in four installments, over a period of three years.
These were disclosed on Tuesday during a briefing after the weekly State Executive Council meeting presided over Governor Seyi Makinde.
Commissioners Dr Wasiu Olatunbosun (Information, Culture and Tourism), Olasunkanmi Olaleye (Education, Science and Technology), Seun Asamu (Energy and Mineral Resources), Governor Seyi Makinde’s Chief Press Secretary, Mr Taiwo Adisa and the Special Adviser (Media) to the Governor, Mr Jide Ajani attended the briefing.
Olaleye said the amount is the outcome of asset sharing between the two states when the ownership crisis issue was resolved in favour of Oyo state.
He said: “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 the payment of the sum of N8billion to Osun state government and it will be paid over a period of three years.
“The breakdown of the payment is as follows, N1billion is to be paid in January 2021, another N1billion to be paid in December 2021. N3billion is to be paid in 2022 and the last N3billion is in 2023.
“The money is not to be paid as a lump sum but in instalments. The money is once and for all. What we are having now is a total package and all other things have been taken care of.
“If there are liabilities, they have been taken care of at both ends and everything has been packaged into this sharing.”
