IN OUR COLLECTIVE INTEREST………..
For The Attention of:
The Osun Founding Fathers
The Osun Academia,
Osun Civil Society Coalition
Mainstream and Online Media:
The General Public:
THE LAUTECH GIVEAWAY!!!
There’s need for all the stakeholders above and other well meaning person and lover of the state to join in raising our voice again on this issue of our collective interest and future concern.
It is no longer news that since 20th November 2020, Gov. Oyetola decided on behalf of the state to opt out of joint ownership of Ladoke Akintola University of Technology, Ogbomoso for the sole reason of not being able to cope any longer with the huge financial commitment of the state in funding the institution and the need for him to concentrate more on the state owned University alone.
From what was made known to the public then, Oyo State Government will pay a sum total of #8 billion to Osun within a period of 3 years in 3 installments of#1billion in January 2021, another #1 billion in December 2021, #3billion in 2022 and the last #3 billion in 2023 after which nothing more goes to Osun state. Meanwhile, the smart Seyi Makinde quickly jumped at the offer and added that he won’t sack any Osun indigene.
To any reasonable person, the arrangement and agreement by Gov. Oyetola is very ridiculous and disastrous for the state both now and in the future because a lot of reasonable factors were not considered by the Governor.
As an institution established by law, the house of assembly was rendered irrelevant in the entire arrangement otherwise, if the issue was debated by the house, no responsible representative will identify with such arrangement. However, the deed has been done.
Meanwhile, from the statement of Seyi Makinde he made on Monday 22nd November, he said Oyo state have paid the first#1billion in January and will pay another #1billion this December after which #3 billion will be paid next year.
For anybody that cares to know, the asset worth of LAUTECH after a proper valuation has been done can not be less than #200 billion in property market and for a university that is being jointly funded in every terms and condition, Osun should not have settled for anything less than #100 billion ( asset worth) apart from the teaching hospital in Osogbo.
The general concern now should be what has happened to the first #1billion part payment received on LAUTECH giveaway since January this year? This is necessary for the whole state to know because the money was not part of the budget estimate for this year 2021.
Surprisingly, a critical look at the state” budget proposal for 2022 especially in the ministry of Education didn’t have anything like fund received from the pullout from LAUTECH under any heading at all either as revenue or grant or earnings to UNIOSUN or any other sector of education, the government has been very quiet on the money. This is not good at all. The silence of Government on the issue is disturbing and worrisome.
Pending when the government will come out openly to clear the air on this matter, there are issues that must be answered by all the players in the LAUTECH giveaway otherwise, the whole arrangement will turn to a scam from the stable of the finance encyclopaedia.
1)- Were there adequate consultation before the agreement was reached by Gov. Oyetola to pull out and settle for #8billion as what is due to Osun from LAUTECH and who were those consulted?
2)- Was there any property valuation by experts? what is the name of the experts and what did they arrive at as the current property value of LAUTECH in total then?
3)- How did Governor Oyetola agreed to the sum of #8 billion as what is due to Osun from a jointly owned “investment” that has been funded together since the past 30 years?
4)-Why was the part payment made by Oyo state not reflected or mentioned in the 2022 budget of the state?
5)- Was the House of Assembly in the know about the arrangement to collect a mere #8billion?
Lest we forget, LAUTECH has been successfully managed in the past by several leaders apart from the military. Baba Akande- Lam Adesina administration, Gov. Oyinlola- Ladoja administration, Aregbesola- Akala, Aregbesola- Ajimobi, all managed the LAUTECH affairs successfully. So, why the giveaway now?
The public deserves to know.