FG Retains King’s College Ownership, KCOBA Manages Operations

The Federal Government of Nigeria has confirmed that it retains ownership of King’s College, Lagos, while the King’s College Old Boys’ Association (KCOBA) will take charge of financing, rehabilitating, operating, and maintaining the school through a Public-Private Partnership (PPP) concession. Dr Maruf Tunji Alausa, the Minister of Education, clarified that this arrangement does not equate to the sale or privatization of the 117-year-old institution, as the legal title remains with the government.

KCOBA's responsibilities include mobilizing funds and management capacity for the school's modernization, while the government maintains its regulatory powers. The agreement underwent various assessments and received necessary approvals.

It ensures that admissions will follow existing Unity College policies and does not automatically raise school fees. KCOBA will handle operational expenses, while the government will oversee performance through audits and inspections.

A Staff Transition and Protection Framework will safeguard staff welfare during the transition.