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Oyo, Osun released N13.626b to LAUTECH, insist on forensic audit.

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THE owner state governments of Ladoke Akintola University of Technology, LAUTECH, Ogbomoso have said that their earlier position, demanding an external forensic audit of the institution, so as to defuse and proffer lasting solution to the incessant crisis that had been affecting the institution, has been justified based on the visitation panel’s report, detecting 97 different bank accounts in almost all the commercial banks in the country being operated as against the directive of the Treasury Single Account (TSA)  policy specifically put in place to promote transparency.

The report, also revealed that majority of the banks have closed shop due to either restructuring, merger or outright de-listment by the Central Bank of Nigeria and a total sum of N13.626 Billion subventions, excluding Internally Generated Revenue (IGR) was released to the institution by Oyo and Osun state governments between 2011-2016.

Revealing this yesterday, in Ibadan, the Oyo state commissioner for Education, Science and Technology, Prof. Adeniyi Olowofela, while receiving the state executives of the Christian Association of Nigeria, (CAN) noted that part of the recommendations of the visitation panel led by a far famed legal luminary, Chief Wole Olanipekun was that the accounts of the school and its workforce must be audited.

According to him, “We are not too comfortable with the accounting process or procedure of the institution, that is the least we can say now. ” Part of the recommendations of the visitation panel was that the accounts of the school must be audited; not only the accounts but the work force too must also be audited such that we look at the best practices on how to run this particular institution”. The bursary departments still rely on analogue mode of operation, with its attendant challenges and risks”.

The Commissioner continued, “When the government said you must have single account, in that visitation panel report, you have various accounts. If you have various accounts, you have not been accused of any financial difficulty, but we must know the truth so that at the end of the day, we will know whether something is wrong with the management, administration or the accounting process.

“The visitation panel observed that the University opened ninety-seven different bank accounts in almost all the commercial banks in the country. Some of the banks have closed shop, due to either restructuring, merger or outright de-listment by the Central Bank of Nigeria”.

In a like manner, Olowofela summarily analyzed as follows: “The subventions released to LAUTECH between 2011-2016 goes thus; Oyo state released 8,473,361,702.25, and Osun state contributed 5,153,047,345.74, totaling N13.626 Billion.

“Also, the students population is as follows : Undergraduate (Regular) – 27,457. Undergraduate (Part time ) – 1514. Postgraduate (Regular) – 2857. Postgraduate (Part-Time) 3054 . Open Distance Learning (ODL) 655. Total- 35,507 Students. Why is it difficult for LAUTECH to survive, since institutions with less students’ population are surviving?”.

“We must ascertain whether the government needs to jerk up the subvention or whether government needs to remove the subvention completely. We must know so that we will be acting based on facts. But what are we observing now, people are moving from one quarter to the other raising emotions “, Olowofela added.

Appealing to the labour unions of the institution to give peace a chance, he, however assured, “We are getting closer to the solution than to the problem. If we have an enabling atmosphere such that the audit firm is able to do the job there, the two governments will comply with the recommendations. The audit firm must submit its report within the next 3weeks. But it appears as if some people want to truncate the exercise. I am appealing to the workers to give peace a chance”, the Commissioner urged.

 

By Idowu AYODELE.

 

(C) Mega Icon Magazine.

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Nigeria’s Oil Output Rises to 1.68m Barrels Per Day

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Nigeria’s crude oil and condensate production rose to 1.68 million barrels per day in August 2026, representing a 0.4 per cent increase from the 1.67 million barrels per day recorded in July.

The Nigerian Upstream Petroleum Regulatory Commission disclosed this in its latest production report released on Sunday.

Excluding condensate, the country produced an average of 1,500,190 barrels of crude oil per day in August, allowing Nigeria to meet its Organisation of Petroleum Exporting Countries quota for the fourth consecutive month.

Daily combined crude oil and condensate production ranged between 1.64 million barrels and 1.71 million barrels during the month under review.

A breakdown of production by terminals showed that Bonny Terminal recorded the highest output at 320.04 thousand barrels per day, followed by Forcados Terminal with 317.40 thousand barrels per day.

Qua Iboe Terminal recorded an average production of 171.72 thousand barrels per day, while Escravos Oil Terminal posted 131.71 thousand barrels per day.

Bonga ranked fifth among the highest-producing terminals, with an average output of 92.50 thousand barrels per day.

The NUPRC attributed the modest improvement in August production largely to the resolution of operational challenges involving the Single Buoy Mooring at the Erha field.

The commission said the challenges had adversely affected production in the preceding month.

“The restoration of normal evacuation and production operations at the asset contributed positively to overall production volumes during the period under review,” the commission’s spokesperson, Eniola Akinkuotu, said in a statement on Sunday.

The regulator added that production activities across most other producing assets remained relatively stable during the month.

“Production activities across most other producing assets remained relatively stable, with operators sustaining implementation measures aimed at optimising production efficiency, maintaining asset integrity, and minimising operational disruptions,” the statement said.

The latest figures indicate a continued improvement in Nigeria’s oil production, with the country maintaining its OPEC quota compliance for the fourth consecutive month.

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Oyo South: Oseni Approves N100m for Ibadan Community Road Rehabilitation

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The All Progressives Congress (APC) candidate for Oyo South Senatorial District, Hon. Aderemi Oseni, has approved N100 million for the immediate rehabilitation of a major access road linking seven communities in Ido Local Government Area of Oyo State.

Oseni, who represents Ibarapa East/Ido Federal Constituency in the House of Representatives, announced the intervention on Saturday at a town hall meeting with residents and community leaders from Power Line, Awonsoso, Siba, Olupoyi, Balogun, Baba Agba and Agaloke communities.

‎The lawmaker said the decision followed a request by the community stakeholders, who identified the poor condition of the road as their most pressing need. He assured the residents that the rehabilitation would be completed within four months.

‎Oseni said the intervention was part of his commitment to people-centred representation, stressing that his legislative activities had been focused on issues capable of improving the lives of Nigerians.

He said, “Within the three years plus, I have sponsored bills and moved motions that are carefully designed to positively impact the lives and livelihoods of citizens.”

According to him, some of the legislative initiatives include moves to amend the Federal Medical Centres Act to establish a Federal Medical Centre in Ido Local Government Area, stronger sanctions for contractors who fail to execute government projects according to specifications, and measures to improve accountability in the management of public contracts.

Oseni added that he had also advocated subsidised farm machinery for farmers, measures to reduce the cost of cancer treatment, improved food storage through modern silos and processing facilities, as well as urgent action on flooding and recurring building collapses in major cities among several others.

‎The lawmaker said his engagements with communities across Oyo South should not be viewed solely through the prism of the 2027 elections, despite the commencement of political activities.

“My visit here today is not to solicit for votes, but to listen and find practical ways to attend to the requests and plights of my people,” he said.

‎Oseni also disclosed that he had facilitated the distribution of 31 transformers across Ido and Ibarapa, with about 80 per cent of the cost funded through his foundation. He added that  other interventions had included solar-powered street lights, boreholes, bridges, public toilets, educational support,  infrastructure, health care services,  youth and women empowerment, and assistance to artisans, traders and markets across the senatorial district.

The APC chieftain further noted that some youths had also received N1 million each as seed capital to start small businesses.

‎Oseni acknowledged that his primary responsibility as a federal lawmaker was to make laws and provide effective representation, but said the gap created by ineffective governance at the grassroots had made it necessary for him to support communities through interventions.

He urged youths to remain focused and resilient, recounting how he worked as a bus conductor to raise money for his secondary education before becoming an engineer, businessman and legislator.

Earlier,  Chief Muibi Adegoke, Baale of Awonsoso, and Chief Azeez Saka, Baale of Elere Apata, commended the lawmaker for what they described as his performance in legislation and community development. They pledged their support for his political aspiration ahead of the 2027 election.

‎The meeting was attended by traditional rulers, religious leaders, community elders, women and youth leaders from the affected communities.

(c) Mega Icon Magazine 

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Oyo APC Guber Candidate, Alli, Celebrates Archbishop Wale Oke at 70

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The All Progressives Congress (APC) governorship candidate in the 2027 Oyo State election, Senator Sharafadeen Alli, has congratulated the Archbishop of the Sword of the Spirit Ministries, Francis Wale Oke, on his 70th birthday.

Alli, in a statement on Tuesday, described the cleric as one of the foremost spiritual leaders produced by Ibadan, saying his contributions to the spread of Christianity had brought honour to Oyo State and impacted lives beyond Nigeria.

The senator described Oke as a “kingdom general” whose leadership and commitment to the gospel had positively influenced communities and nations across the world.

He said, “On behalf of my family and the APC family in Oyo State, I warmly congratulate one of our state’s most illustrious figures, Archbishop Francis Wale Oke, as he marks the landmark age of 70 years today.

“I join millions of Nigerians in celebrating a generational leader, a reformer and a dependable voice for peace and national development. Your dedication over the last five decades to destiny moulding, spiritual upliftment and the expansion of the Christian faith is unparalleled.”

Alli also commended the archbishop’s leadership qualities and his achievements in various capacities, particularly as the National President of the Pentecostal Fellowship of Nigeria.

The APC candidate noted that Oke’s influence extended beyond the pulpit, describing his years of service as a testament to his commitment to spiritual development and nation-building.

He prayed for continued grace, good health and many more years of fruitful service for the celebrant.

“As you continue to expand the Kingdom and impact destinies, I pray for renewed grace, robust health and many more fruitful years. Ibadan and Oyo State are immensely proud to have you,” Alli added.

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