The Federal Government has said that King’s College, Lagos, has not been sold or privatised, stressing that the institution remains a publicly owned national institution with legal title retained by the government.

The Minister of Education, Tunji Alausa, gave the assurance while clarifying the Public-Private Partnership (PPP) concession between the Federal Government and the King’s College Old Boys’ Association (KCOBA).

Under the concession agreement, KCOBA is responsible for financing, rehabilitating, modernising, operating and maintaining the 117-year-old institution, while the Federal Government retains ownership as well as its statutory regulatory, monitoring, inspection and enforcement powers.

Mr Alausa also said the agreement does not transfer ownership of the school to KCOBA, while admissions will continue to comply with applicable Unity College policies and the principles of merit, transparency, fairness and national representation. He added that the agreement does not prescribe an automatic increase in school fees, although it does not establish a permanent fee freeze.

According to the minister, the concession is intended to address the institution’s significant infrastructure and operational needs and ensure its long-term sustainability, with KCOBA expected to finance major rehabilitation and new developments across academic facilities, hostels, laboratories, libraries, staff quarters, health facilities, sports facilities and other infrastructure.

Full statement below: