Governor Seyi Makinde of Oyo State has said that the state will release N500 million to offset part of the debt owing the Ladoke Akintola University of Technology (LAUTECH), Ogbomoso.
Makinde made this known on Tuesday during a stakeholders’ meeting on the challenges confronting the institution, held at the university, in Ogbomoso.
The governor said that he would not shy away from taking up responsibilities in charting the way forward for the institution.
He stressed that Oyo State could shoulder the responsibility of sole ownership of the institution.
Makinde further disclosed that he had proposed 20 percent for education in the 2020 budget.
He cautioned the institution’s members of staff against causing unnecessary rift with Osun state, saying every worker must be assured of job security, irrespective of where he came from.
Earlier, the institution’s Vice Chancellor, Prof. Michael Ologunde, said that the institution could assist the nation in achieving its industrialisation move, if properly funded.
Ologunde disclosed that the total indebtedness of the institution stood at over N6 billion.
The News Agency of Nigeria (NAN) reports that unions and other stakeholders, who spoke at the meeting, called for single ownership of the university and kicked against its privatisation.
They also wanted the two states to offset all the outstanding salaries to enhance smooth academic calendar.