Abuja: The Federal Government has affirmed its legal ownership of King’s College, Lagos, dispelling any rumors of a sale or privatization of the 117-year-old institution. This clarification comes amid a Public-Private Partnership (PPP) concession agreement with the King’s College Old Boys’ Association (KCOBA), which has caused some public confusion.
According to News Agency of Nigeria, the Minister of Education, Dr. Tunji Alausa, stated in a press release that the agreement with KCOBA only involves the transfer of responsibilities for financing, rehabilitating, modernizing, operating, and maintaining the school. The government retains its statutory, regulatory, monitoring, inspection, and enforcement powers over King’s College.
Dr. Alausa emphasized that the concession is not a sale and highlighted the government’s ongoing legal title and oversight duties. He noted that the arrangement aims to harness investment and management capacities to reinforce this vital national institution.
The agreement with KCOB
A, developed under the established PPP framework, underwent rigorous assessments including technical, economic, financial, legal, environmental, and social evaluations, alongside value-for-money analysis and risk allocation. It also received necessary regulatory and Federal Executive Council approvals.
Under the terms of the agreement, KCOBA will finance and implement substantial rehabilitation and new developments across various facilities at the college, including academic and administrative buildings, hostels, staff quarters, laboratories, libraries, and more.
Alausa reassured that the public character and national identity of King’s College are preserved and that admissions will follow Unity College policies, ensuring equitable representation from all states and the Federal Capital Territory. Admission into Junior Secondary School One (JSS1) will remain merit-based through the National Common Entrance Examination.
The agreement does not mandate an automatic increase in school fees but focuses on addres
sing the institution’s infrastructure and operational needs for long-term sustainability. The concession also includes a Staff Transition and Protection Framework to ensure staff welfare, with the Federal Government maintaining responsibility for existing employment obligations prior to the transition unless otherwise assumed by KCOBA.
KCOBA will manage relevant operating expenditures post-transition, including personnel salaries and benefits. Government oversight remains intact, with the agreement specifying measurable Key Performance Indicators (KPIs), infrastructure standards, and provisions for audits and inspections.
The minister reiterated that the concession aims to preserve and invest in King’s College’s future, ensuring sustained infrastructure renewal and improved learning facilities. KCOBA is restricted from selling or disposing of concession assets without approvals, and asset deterioration beyond agreed standards is prohibited.
Dr. Alausa urged stakeholders to evaluate the concession’s impleme
ntation and outcomes in terms of infrastructure, academic performance, admissions, and staff welfare. He reassured that the Federal Government would oversee implementation and ensure adherence to contractual obligations, aiming to strengthen King’s College for future generations.