The Executive Secretary, National Universities Commission, (NUC) Prof. Abubakar Rasheed,  has announced the dissolution of the joint ownership of the Ladoke Akintola University of Technology (LAUTECH), Ogbomosho, Oyo State and the College of Health Sciences, Osogbo, Osun State.

Prof. Abubakar Rasheed,  made the announcement at a press briefing Friday in Abuja on the successful  resolution of the lingering ownership crisis that has rocked the  institution over the years thereby crippling academic activities.

While the University is now fully owned by Oyo State Government, Osun State takes the ownership of the College of Health Sciences.

The joint ownership arrangement of LAUTECH and the college of health sciences has been characterised by governance challenges  which has inturn affected  the appointment of Vice-Chancellor and other principal officers as well as irregular payment of staff salaries.

Worried by this development stakeholders called on the commission to intervene in the crisis,  that resulted in the  constituted of a Tripartite Committee comprising representatives of both states to interface with stakeholders toward finding a lasting solution to the seemingly intractable crisis.

He added that the committee which commenced its work reached an agreement with the states on the sharing of assets and liabilities of LAUTECH by Oyo and Osun states.

” It is gratifying to note that after extensive deliberations, negotiations and consultations, both owner states mutually agreed terms and the joint ownership of LAUTECH was formally dissolved.

“The mutually agreed dissolution was formalised 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 LAUTECH to Oyo state and the college of health sciences to the government of Osun state.

“The NUC wishes to commend and express its profound gratitude to the governors of both states for their exemplary statesmanship, leadership and tremendous sacrifice by putting the interest of LAUTECH and its over 30,000 students above political and other considerations,” he said.

Rasheed said that the governor of Oyo state was working to upgrade the state hospital to a teaching hospital to accommodate the medical students of LAUTECH while  the college of health sciences Osogbo would benefit the medical students of Osun state university.

The executive secretary, however, urged both states to bear full cost and responsibilities of the university to boost and expand its capacity.
Rasheed assured that the commission will continue to   work with stakeholders to ensure the full implementation of the terms of the agreement in all its ramifications .