King’s College Lagos not sold, remains publicly owned — FG

The Federal Government has clarified that King's College, Lagos, remains a publicly owned institution and has not been sold or privatized, according to a statement from the Minister of Education, Tunji Alausa. This clarification comes in response to concerns over the ownership and management of the 117-year-old institution. Under a Public-Private Partnership concession, the King's College Old Boys' Association (KCOBA) is responsible for financing, rehabilitating, modernizing, operating, and maintaining the school, while the Federal Government retains legal title and oversight powers.

The concession was developed in accordance with established PPP framework and subject to various assessments before receiving regulatory approval. Alausa emphasized that the concession does not diminish government oversight and includes measures to protect the institution's public character and national identity. KCOBA's responsibilities include capital investment, infrastructure modernization, and performance measurement, with the Federal Government retaining corrective powers in cases of non-compliance.