Lagos, developers to deliver 8,200 hostel accommodation for LASU
Lagos State Government has signed a Build, Operate and Transfer (BOT) agreement with six private property developers to deliver 8,272 units of hostel for Lagos State University (LASU) in the next 18 months.
Governor Babajide Sanwo-Olu officially approved the BOT agreement at a short ceremony held at Lagos House, Marina on Friday evening. The deal, which will lead to the construction of six blocks of Hall of Residence, was wrapped under the state Public Private Partnership (PPP) policy. The concessions will run for 35 years.
When the private developers deliver the projects in 2021, it is expected that 30 per cent of the school’s 26,000 student-population will be served; thereby reducing the pressure resulting from over subscription of privately owned off-campus residences.
After signing the agreement, Sanwo-Olu said the development further underscored his administration’s objective of driving up quality output across the state-owned schools, through provision of infrastructure critical to facilitating better-quality teaching and learning.
When LASU changes its status to a residential institution, Sanwo-Olu said there would be improvement in students’ academic performance, while the school would also move up in its global rating.