The Oyo Government has approved the renaming of two state-owned tertiary institutions. This decision was made during the State Executive Council meeting held on Tuesday.
The institutions whose names will change include the Oyo State College of Nursing and Midwifery and the Oke Ogun Polytechnic, Saki.
The government has stated that the necessary legislative requirements to effect the name change have been forwarded to the House of Assembly.
The Commissioner for Justice, Abiodun Aikomo, disclosed during a briefing, that while the request for renaming the College of Nursing and Midwifery came from the regulatory body, the decision to rename the Polytechnic in Saki was to honour a former Secretary to the State Government, Chief Micheal Adeniyi Koleoso.
Aikomo said: “Council considers the renaming of the Oyo State College of Nursing and Midwery. This was necessitated by the request of the Nursing and Midwifery Council that the name of the institution be changed. It was considered and approved.
“Council considered the renaming of the Oke Ogun Polytechnic, Saki to be renamed Micheal Adeniyi Koleoso Polytechnic, Saki. Chief Adeniyi Koleoso has served Oyo State in various capacities, and he has contributed immensely to the development of Oyo State and Oke Ogun in particular.
“There’s a shift from what we used to know. People are immortalised when they are long gone but Governor Seyi Makinde considered it necessary and fit to appreciate people while they are still alive, when they can appreciate and reap the fruit of their labour.
“So, this was considered and the council approved the name change for onward transmission to the Hosue of Assembly for passage to law. The same thing will happen to the Nursing and Midwifery College to be renamed because these institutions were set up by the law, amendments will also be considered by the Assembly.”
He further mentioned that the government has also deliberated on and sanctioned a restructuring of the state-owned Mining Development Company, with a proposal to elevate its shareholding from N10 million to N100 million.
“Council also considered the reorganisation of the Pacesetter Mining Development Company. The Oyo State government recognises the opportunity that abounds in the sector and we also want to play in that space to earn revenue for the state and reposition the state for better efficiency.
“Council considered possible reorganisation and injection of capital to the Pacesetter Mining Development Company and it was approved. Consequently, the shares authorised capital of the company will be increased from N10 million to N100 million.
“Before now, the N10 million shares were owned by persons on behalf of Oyo State. But, going forward, substantial, super majority shares will be held by OYSIPA which is the investment arm of Oyo State. OYSIPA will be holding 99% shares and the Managing Director of the company will be holding a one per cent share, just nominally to satisfy the requirements of the law.
“And we hope that when the government pays for the share of the company, the government is able to inject the necessary capital in the company and the company can compete with other stakeholders in the business so that more revenue can come to the state,” Aikomo added.