Osun state government has on Wednesday released N472 million to the Ladoke Akintola university of Technology (LAUTECH), Ogbomoso and its Teaching Hospital, Osogbo.
The breakdown of the amount indicates that the sum of N250 million will go to the University in Ogbomoso, while N222 million will go to the Teaching Hospital, Osogbo, for payment of salaries.
The releases was in line with the agreement reached at a meeting in Abuja between the Oyo State Governor, Seyi Makinde and Governor Gboyega Oyetola of Osun on the need to ensure “financial stability and sustainability” of the institution.
In a letter addressed to the chairman of the University’s council, signed by the Osun Commissioner for Finance, Bola Oyebamiji, the government communicated the release of the fund to the University’s council.
The letter reads in part: “I wish to inform you that the State Government of Osun has paid the sum of Two Hundred and Fifty Million Naira Only (N250,000,000.00) to Ladoke Akintola University of Technology, Ogbomoso in line with the agreement earlier reached by Governors Gboyega Oyetola of Osun and Seyi Makinde of Oyo (the two owner states) in Abuja to ensure financial stability and sustainability of the institution.
“It is also worthy of note that the State Government of Osun has released the sum of Two Hundred and Twenty-two Million Naira Only (N222, 000,000.00) to Ladoke Akintola University of Technology Teaching Hospital, Osogbo for payment salaries which brings the total funds released to the University to Four Hundred and Seventy-two Million Naira Only (N472, 000, 000.00).”