Oyo Government has approved the renaming of two state-owned tertiary institutions.
The decision forms part of resolutions at the State Executive Council meeting on Tuesday.
The institutions include: Oyo State College of Nursing and Midwifery and the Oke Ogun Polytechnic, Saki.
The government said the legislative requirement to effect the name change has been transmitted to the House of Assembly.
Speaking during a briefing, the Commissioner for Justice, Abiodun Aikomo, said while the request for the renaming of the College of Nursing and Midwifery was made by the regulatory body, the need to rename the Saki based Polytechnic 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 Midwery 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 had 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 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 Midwery College to be renamed because these institutions were set up by the law, amendments will also be considered by the Assembly.”
He added the government also considered and approved a reorganising of the state-owned Mining Development Company with a plan to increase its shareholding from N10 million to N100million.
“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 N10million to N100million.
“Before now, the N10million shares were owned by persons on behalf of Oyo State. But, going forward, substantial, super majority shares will be heldby OYSIPA which is the investment arm of Oyo State. OYSIPA will be holding 99 percent shares and the Managing Direcror of the company will be holding one percent 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.
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