Osun State has finally ceded the ownership of Ladoke Akintola University of Technology (LAUTECH) to Oyo State, putting an end to the 29-year-old ownership tussle that has hampered the development of the University.
Executive Secretary of National Universities Commission (NUC), Professor Abubakar Rasheed, made this known at a news conference in Abuja on Friday on the resolution of the lingering ownership crisis rocking the institution over the years.
The crisis-ridden institution in Ogbomoso 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.
However, over the years, the joint ownership arrangement has been characterized by governance and management challenges, affecting the appointment of Vice-chancellor and other Principal Officers, as well as the irregular payment of staff salaries.
With the cede of power, both owner states mutually agreed terms and the joint ownership of LAUTECH has been formally dissolved following extensive mediation by the National Universities Commission (NUC), on the need to restore tranquillity and conducive learning environment in both institutions.
Professor Rasheed explained that while the main University ownership gets transferred to Oyo State government, the College of Health Sciences, Osogbo is ceded to Osun State government.
He stated that;
The mutually agreed dissolution was formalized 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 Ladoke Akintola University of Technology (LAUTECH) to the Government of Oyo State and the College of Health Sciences, Osogbo to the government of Osun State.
He added;
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, Oshogbo 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.
Prof. Rasheed said that NUC is ready to work with all the stakeholders to ensure full and faithful implementation of the terms of agreement between the state governments.
He also promised that NUC would play its part to ensure LAUTECH gets back on track to discharge its tripodal mandates of teaching, research and community service.
