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    Taxing, Borrowing the Future Without Building: What has Nigeria’s fiscal authority done for the real sector?

    Tinubu to Renewed Hope Ambassadors, I will not let Nigerians down

    ICRC charges Nigerians to embrace hope, shared responsibility in 2026

    Nigeria steps up for $2.3trn to bridge infrastructure gap – ICRC

    Nigeria: Analyst sees about 7% cost of revenue collection by NUPRC, NRS, Customs as wasteful

    Nigeria: Analyst sees about 7% cost of revenue collection by NUPRC, NRS, Customs as wasteful

    Nigeria: Court sentences man to three years’ imprisonment in Lagos over N8b fraud

    Nigeria: Court issues arrest warrant against Ex-Minister, Perm Sec over alleged $1.3m, N746.6m fraud

    Nigeria risks missing oil windfall as Navy uncovers 17,500 Litres of stolen crude

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    NLNG disburses N250m grants to 51 entrepreneurs in Rivers

    NLNG disburses N250m grants to 51 entrepreneurs in Rivers

    Tinubu congratulates Wadagni, Benin Republic’s  President-Elect

    Tinubu congratulates Wadagni, Benin Republic’s  President-Elect

    Nigeria begins indigenous production of attack drones in partnership with local tech firm

    Saudi Arabia cuts Nigeria’s hajj quota

    How Lithium, gold plants position Nigeria as Africa’s minerals hub – Alake

    Nigeria: FG inaugurates 18-member probe panel on Plateau mine gas tragedy

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    CREATIVE SECTOR: Strong tech-driven growth

    CREATIVE SECTOR: Strong tech-driven growth

    Deejays disown report of Burna Boy’s music ban

    Deejays disown report of Burna Boy’s music ban

    David Offor, famous actor as Clarus in 1970s New Masquerade tv home series, passes away 

    David Offor, famous actor as Clarus in 1970s New Masquerade tv home series, passes away 

    Spotify streams fetch Nigerian artistes N60b in 2025

    Spotify streams fetch Nigerian artistes N60b in 2025

    Grammys 2026: South Africa’s Tyla edges Nigerian artistes with Best African Music Performance

    Grammys 2026: South Africa’s Tyla edges Nigerian artistes with Best African Music Performance

    Actors Guild of Nigeria lifts suspension of  Nollywood actress Halima Abubakar

    Actors Guild of Nigeria lifts suspension of  Nollywood actress Halima Abubakar

    NFC congratulates Funke Akindele as film ‘Behind The Scenes’ grosses over N2b at the box office

    NFVCB hails Funke Akindele on box office success of ‘Behind The Scene’

    NFC congratulates Funke Akindele as film ‘Behind The Scenes’ grosses over N2b at the box office

    NFC congratulates Funke Akindele as film ‘Behind The Scenes’ grosses over N2b at the box office

    Taxing, Borrowing the Future Without Building: What has Nigeria’s fiscal authority done for the real sector?

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    Oyetola commissions NIMASA–UNILAG Institute of Maritime Studies Building, reaffirms commitment to blue economy growth

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    Nigeria: Police strengthen deployment nationwide ahead of JAMB examination

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    EDUCATION: Between high digital ambition and foundational challenges

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    Ogun gov pledges to return missionary schools to their owners

    Redeemer’s University Business School to raise men, women of integrity in the business world –  Adeboye

    JAMB says no barring of undergraduates from UTME

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    HEALTH: Between ambition and reality

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    Nigeria: FG tasks CBPP on vaccination efforts for total eradication of cattle pneumonia

    Nigeria: FG tasks CBPP on vaccination efforts for total eradication of cattle pneumonia

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    Africa: CDC raises alarm of rising outbreaks of cholera, Mpox, Marburg

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    Shell/NNPC boost respiratory care in Nigeria with donation of key equipment to LUTH

    Shell/NNPC boost respiratory care in Nigeria with donation of key equipment to LUTH

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    NiRA blames foreign domains for multi-billion naira capital flight

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    Dangote, Pope Leo XIV, Trump, Xi Jinping, others named in TIME 100 Most Influential People for 2026

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    MEDIA: Digital platforms reshaping consumption

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    Nigerian Breweries confirms brewers’ return to profitability in 2025

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    Guinness Nigeria credits renewed confidence of investors in long-term prospects for ₦1trn market capitalisation

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    Photo News: Tinubu  inaugurates Opebi-Ojota Link Bridge, Multi-Agency Complex, LAGIS

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    Sudan faces a deeper health crisis after three years of conflict – WHO

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    GTI chief foresees N200b investment in Nigeria’s premier league within five years

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    Taxing, Borrowing the Future Without Building: What has Nigeria’s fiscal authority done for the real sector?

    Tinubu to Renewed Hope Ambassadors, I will not let Nigerians down

    ICRC charges Nigerians to embrace hope, shared responsibility in 2026

    Nigeria steps up for $2.3trn to bridge infrastructure gap – ICRC

    Nigeria: Analyst sees about 7% cost of revenue collection by NUPRC, NRS, Customs as wasteful

    Nigeria: Analyst sees about 7% cost of revenue collection by NUPRC, NRS, Customs as wasteful

    Nigeria: Court sentences man to three years’ imprisonment in Lagos over N8b fraud

    Nigeria: Court issues arrest warrant against Ex-Minister, Perm Sec over alleged $1.3m, N746.6m fraud

    Nigeria risks missing oil windfall as Navy uncovers 17,500 Litres of stolen crude

    Nigerian Navy disrupts oil theft, recovers 1.2m litres in Rivers

    NLNG disburses N250m grants to 51 entrepreneurs in Rivers

    NLNG disburses N250m grants to 51 entrepreneurs in Rivers

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    Tinubu congratulates Wadagni, Benin Republic’s  President-Elect

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    Nigeria: FG inaugurates 18-member probe panel on Plateau mine gas tragedy

  • Entertainment
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    CREATIVE SECTOR: Strong tech-driven growth

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    Deejays disown report of Burna Boy’s music ban

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    David Offor, famous actor as Clarus in 1970s New Masquerade tv home series, passes away 

    Spotify streams fetch Nigerian artistes N60b in 2025

    Spotify streams fetch Nigerian artistes N60b in 2025

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    Grammys 2026: South Africa’s Tyla edges Nigerian artistes with Best African Music Performance

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    Actors Guild of Nigeria lifts suspension of  Nollywood actress Halima Abubakar

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    NFVCB hails Funke Akindele on box office success of ‘Behind The Scene’

    NFC congratulates Funke Akindele as film ‘Behind The Scenes’ grosses over N2b at the box office

    NFC congratulates Funke Akindele as film ‘Behind The Scenes’ grosses over N2b at the box office

    Taxing, Borrowing the Future Without Building: What has Nigeria’s fiscal authority done for the real sector?

    Tinubu salutes Rema, Burna Boy, Shallipopi, others as Nigeria shines at 9th AFRIMA

    • Life
    • Art & Culture
    • LIFE & CULTURE
  • Education
    Oyetola commissions NIMASA–UNILAG Institute of Maritime Studies Building, reaffirms commitment to blue economy growth

    Oyetola commissions NIMASA–UNILAG Institute of Maritime Studies Building, reaffirms commitment to blue economy growth

    JAMB says no barring of undergraduates from UTME

    Nigeria: Police strengthen deployment nationwide ahead of JAMB examination

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    EDUCATION: Between high digital ambition and foundational challenges

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    HEALTH: Between ambition and reality

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    WHO forum unites 800 collaborating centres for stronger scientific cooperation

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    Nigeria: FG tasks CBPP on vaccination efforts for total eradication of cattle pneumonia

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    NiRA blames foreign domains for multi-billion naira capital flight

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    MEDIA: Digital platforms reshaping consumption

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    WorldStage president advocates executive order to compel Nigerian firms to commit 80% of advert budget to local media

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    Nigerian Breweries confirms brewers’ return to profitability in 2025

    Nigerian Breweries confirms brewers’ return to profitability in 2025

    Guinness Nigeria credits renewed confidence of investors in long-term prospects for ₦1trn market capitalisation

    Guinness Nigeria credits renewed confidence of investors in long-term prospects for ₦1trn market capitalisation

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    EFCC arraigns man over alleged N64m fraud in Onitsha

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    IMF, World Bank, WFP pledge support for countries hit  by Middle East crisis

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LAUTECH: Oyo to pay N8b to Osun in three years as asset sharing agreement

by Worldstage News
January 19, 2021
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…approves N92 million for tribrid system of power supply to RCDC, Awe
…as govt launches Keke Seyi within state secretariat

As a follow-up to the agreement reached between Oyo and Osun state governments on the ownership of the Ladoke Akintola University of Technology (LAUTECH), the Oyo state government, on Tuesday, approved the payment of the sum of N8 billion to Osun State government as an asset sharing agreement.

The approval, which was conveyed by the Commissioner for Education, Barrister Olasunkanmi Olaleye, would be paid in three installments spread over a period of three years.

A statement by Mr. Taiwo Adisa, Chief Press Secretary to Governor Seyi Makinde, indicated that Olaleye stated this while briefing newsmen shortly after the Executive Council meeting held at the Governor’s Office, saying: “As a follow-up to the agreement reached with the Osun State government on the issue of sole ownership of LAUTECH, the Executive Council of Oyo State approved today the payment of the sum of N8 billion to Osun State government. It will be paid over a period of three years.

“The breakdown of the payment goes as follows: one (1) billion Naira will be paid in January 2021 and another one (1) billion Naira will be paid in December 2021. Three (3) billion Naira will be paid in 2022 and the last three (3) will be paid in 2023. This was the decision of the council today.”

Similarly, the Executive Council also approved provision of a tribrid system of power supply consisting of solar, diesel generating set and battery storage for Rural Community Development Centre (RCDC), Awe as an urgent intervention at the sum of N92 million only.

According to the state’s Commissioner for Energy and Mineral Resources, Barr. Temilolu ‘Seun Ashamu, the Council resolved to make the intervention on the Rural Community Development Centre, Awe, which is one of the hubs of the state’s Agribusiness development programme.

He said: “At the Exco meeting today, the Council resolved that the Ministry of Energy and Resources will provide an urgent intervention at the Rural Community Development Centre RCDC Awe, which is actually one of the hubs for the agribusiness development of this administration.

“It resolved that the ministry will provide a tribrid system comprising solar, diesel generating set and battery storage for RCDC.”

He also said that the council approved the launch of a bike sharing scheme codenamed Keke Seyi to facilitate easy transportation within the state secretariat, Agodi, Ibadan.

The scheme, which is to involve the use of 60 bicycles is being piloted by an indigenous company which will be paid the sum of N750,000 for its services.

He said that the bike-sharing scheme within the Secretariat will be available for use by members of the public and staff of the state.

Ashamu said: “Secondly, the Council approved the implementation of bicycle drive codenamed ‘keke Seyi.’ The bicycles will be piloted in collaboration with OurBikes Nigeria, an indigenous company, which has offered the state its services to come and pilot a bike-sharing scheme within the Secretariat so that the bicycles will be available for use by members of the public and staff of the state.

“About N92 million was approved for the RCDC and that of Keke Seyi is a token amount of N750,000. They (Ourbike Nigeria) will be providing us with 60 bicycles for the pilot, which is to last for three months initially.

“We have members of the public that come into the Secretariat and they walk around. So, the bicycles are there to promote a number of things; ease of traffic within the secretariat and to promote healthy living.

“It is a bike-sharing scheme and what that means is that you can actually enter the Secretariat from any of the entrances, pick any of the bicycles and ride it to wherever you are going. The bicycles will also be made available to Ministries, Department and Agencies so that members of staff can also use the bicycles.

“It is necessary to state that there are protocols and procedures that guide the use of bicycles. It has been in Europe and North America long before it was brought to Africa. We will ensure that all health and safety measures are put in place such that we would not accelerate the spread of coronavirus.”

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