Students and staff of the Lagos State University (LASU) are about to witness the construction of an 8,272 unit of hostels for the first time in thirty-six years.
This move is the first of its kind since the creation of the institution in the Ojo area of Lagos state.
Governor Babajide Sanwo-Olu has signed a Build, Operate and Transfer (BOT) agreement with six private property developers to deliver the project in the next 18 months, according to a statement issued on Saturday by the Chief Press Secretary to the governor, Gboyega Akosile.
The deal which will lead to the construction of six blocks of Hall of Residence was wrapped under the Public-Private Partnership (PPP) policy of the State.
Although the concessions will run for 35 years, it is expected that 30 percent of the school’s 26,000 student-population will be served when finally completed and delivered in 2021.
“The partnership we just sealed with the six private investors is strategic, because it is going to strengthen our capacity as a Government to scale up education quality and bring about improved academic performance of students.
“It will also help LASU in terms of global rating and outlook. We are using this model as a test case, which governments from other parts of the country will come and emulate. I believe we can deliver on this project and set a precedent that will change the course of tertiary education for good,” he stated.