Babajide Sanwo-Olu, governor of Lagos, says the state government has signed a build, operate and transfer (BOT) agreement with private developers to deliver 8,272 hostel units for Lagos State University (LASU) students.
The development is coming 36 years after the university has been operating as a non-residential institution.
The governor said the project is expected to be completed within 18 months though the concession will run for 35 years.
He added that upon completion, the facility will accommodate 30% of the 26,000 student population.
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According to a statement issued by Gboyega Akosile, chief press secretary to the governor, the deal involves the construction of six blocks of halls of residence.
“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,” Akosile said.
“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.”
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