The Oyo State Government has approved the payment of the sum of N8bn to the Osun State Government being payment for assets at the Ladoke Akintola University of Technology, Ogbomoso.
The Commissioner for Education, Mr Olasunkanmi Olaleye, said the amount would be paid in three instalments over a period of three years.
This was contained in a statement by the Chief Press Secretary to the Governor Seyi Makinde of Oyo State Mr Taiwo Adisa on Tuesday.
“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,” the statement partly read.
The Oyo State Government had taken ownership of the university formerly owned by the two state governments.