The Federal Government has said the concession of King’s College, Lagos, to the King’s College Old Boys’ Association does not amount to a sale or privatisation of the 117-year-old school.
The Minister of Education, Tunji Alausa, said the government retained legal ownership and would continue to regulate, monitor and inspect the institution.
Alausa made the clarification in a statement issued in Abuja on Friday by the ministry’s Director of Press and Public Relations, Folasade Boriowo.
He explained that the Public-Private Partnership agreement only transferred responsibility for funding, rehabilitating, modernising, operating and maintaining the school to the old boys’ association.
“Let me assure Nigerians, particularly the King’s College community, that this concession is not a sale of King’s College,” the minister said.
“The government has retained legal title to the institution and will continue to exercise its oversight responsibilities.”
According to him, the arrangement was intended to attract the financial and managerial resources needed to address the school’s infrastructure and operational challenges.
The minister said the agreement was processed under the established PPP framework and subjected to technical, economic, financial, legal, environmental and social assessments.
He added that the deal also underwent value-for-money analysis, fiscal-impact assessment, risk allocation and commercial structuring before receiving the necessary regulatory and Federal Executive Council approvals.
Under the agreement, KCOBA is expected to finance and execute major rehabilitation and development projects covering academic and administrative buildings, hostels, staff quarters, laboratories, libraries, dining and health facilities, utilities, sports facilities, landscaping, drainage and environmental works.
Alausa said the agreement expressly preserved the school’s public character and national identity, adding that it did not confer ownership rights or proprietary interests on KCOBA.
He also assured stakeholders that admissions would continue to follow Unity College policies and the principles of merit, transparency, fairness and national representation.
The minister said the arrangement would maintain equitable representation from the 36 states and the Federal Capital Territory, subject to applicable merit requirements.
Admission into JSS1, he added, would continue through testing and assessment, with the National Common Entrance Examination remaining a key part of the prescribed entry process.
On school fees, Alausa said the agreement did not mandate an automatic increase, although it also did not provide for a permanent fee freeze.
He said the concession was primarily designed to address the school’s infrastructure and operational needs and ensure its long-term sustainability.
The minister further disclosed that the agreement contained a Staff Transition and Protection Framework to guide the transfer process and safeguard employees’ welfare.
He said employment obligations, liabilities, arrears, pensions, gratuities and other entitlements arising before the transition would remain the responsibility of the Federal Government unless expressly taken over by KCOBA.
Following the transition, KCOBA would be responsible for relevant operating expenses, including salaries, benefits and allowances of personnel engaged under the project.
Alausa said government oversight would remain intact through key performance indicators, infrastructure standards, academic benchmarks and student-development measures.
He said the agreement also provided for regular reports, audits, inspections and independent verification, while the government retained corrective and step-in powers in cases of persistent underperformance or serious contractual breaches.
The minister said KCOBA could not sell, transfer or dispose of concession assets without the required approvals, adding that asset stripping and deterioration beyond agreed standards were prohibited.
He explained that the agreement did not involve a conventional monetary concession fee because KCOBA was required to provide capital investment, operational funding and infrastructure modernisation.
“King’s College is an institution with a remarkable history, but preserving that history requires us to invest in its future,” Alausa said.
“The concession provides a framework for sustained infrastructure renewal, improved learning facilities and stronger operational capacity.”
