Education
Lagos, First Bank Unveil N5bn Loan Package for Schools
By Modupe Gbadeyanka
A funding package of about N5 billion meant to support the education sector has been launched by the Lagos State government in collaboration with First Bank of Nigeria Limited.
The loan is to assist schools in the state to mitigate the negative impact of the coronavirus disease (COVID-19), which forced many schools to be shut for about six months.
Business Post gathered that the loan would be given to low-cost private schools and vocational education centres across the state through the Lagos State Employment Trust Fund (LSETF).
It was stated that the loan scheme will be provided to two categories of applicants, which are Micro-Enterprise (ME) and Small and Medium Enterprise (SME). Those in ME category will receive a sum of not more than N500,000, while those in SME will get N5 million.
Applicants will be expected to submit their applications via the LSETF portal for screening, while details of the successful applicants will be passed on to First Bank for appraisal and disbursement.
Governor of the state, Mr Babajide Sanwo, expressed optimism that, “With access to low-cost funding for privately owned schools and vocational training centres in the state, we are confident that this programme will help accelerate sustainable and painless return to world-class learning and skills acquisition of our young population.”
According to him, “As a responsible Government, we are obligated to provide an intervention that would enable learners in these schools’ study in line with the new normal.”
He further said the credit facility would help the targeted beneficiaries accelerate recovery and give them an opportunity of a painless return to regular life.
“It is no longer debatable that education is one of the sectors that are severely impacted by the COVID-19 pandemic, with schools and vocational learning-centres shut since March when we took the tough decisions meant to disrupt the spread of the virus.
“Given the incidence of the closure of schools in response to the pandemic, it would not be out of context to note that the challenges presently faced by these schools would increase significantly,” he submitted.
Mr Sanwo-Olu emphasised that the beneficiaries will have access to single-digit loan facilities to fund the provision of the amenities and services needed to aid learning.
“It is thus heart-warming to have First Bank of Nigeria electing to be our exemplary partner for this intervention. With their support, players in the education sector would be getting the financial support they need to boost learning at a single-digit interest rate.
“I also commend the board of LSETF and the management for this significant accomplishment. They have helped the Lagos State government build an institution that has engendered public trust and elevated the hope of small businesses and young people, irrespective of challenges faced,” he said.
Speaking on how to access the loan, the Chairperson of the LSETF board of trustees, Mrs Bola Adesola, said schools with a minimum of 100 students and have been in operation for, at least, a year, are the ones qualified for the loan facility.
The CEO of First Bank, Mr Adesola Adeduntan, while speaking, explained that the N5 billion loan will be given to “about 2,000 low-cost private schools in Lagos.”
Education
National Assembly to Stop FG from Funding JAMB, Queries N1bn for Meals
By Adedapo Adesanya
The National Assembly comprising the Senate and the House of Representatives has resolved to remove the Joint Admissions and Matriculation Board (JAMB) from the Federal Government’s 2025 budget grant, citing concerns over the board’s financial management.
Lawmakers argued on Monday that it is unjustifiable for JAMB to remit N4 billion to the federation account while receiving N6 billion from the government in 2024.
This decision followed a presentation by JAMB Registrar, Mr Ishaq Oloyede, before the joint committee of the Senate and House of Representatives, led by Mr Sani Musa, during an interactive session on revenue projections for 2025.
Mr Oloyede revealed that JAMB remitted N4 billion to the Consolidated Revenue Fund but received N6 billion from the federal government in 2024, prompting committee members, including Mr Abiodun Faleke and Mr Adams Oshiomhole, to question the rationale behind funding a self-sustaining agency with government grants.
“You remitted N4 billion and received N6 billion from the federal government. Why not keep the N4 billion and stop the government from funding JAMB?” asked Mr Faleke, the Chairman of the House Committee on Finance.
On his part, Mr Oshiomhole criticized JAMB for spending N1.1 billion on meals and refreshments last year, querying, “Are you being freely fed by the government? This money comes from poor students, many of whom are orphans.”
He also questioned the N850 million spent on security, cleaning, and fumigation, and N600 million on local travels, challenging the justification for these expenses.
Further scrutiny was directed at the N6.5 billion allocated for local training and N1 billion for a staff housing scheme.
Mr Oshiomhole then called for a breakdown of these expenditures.
In a related development, the Senate expressed concern over the low remittances from MDAs in 2024, pointing to a significant gap between the revenue generated and amounts remitted to the federation account.
This was disclosed by Mr Sani Musa, the Chairman of the Joint Finance Committee of the Senate and House of Representatives, during an interactive session on revenue projections by MDAs for 2025.
Mr Musa highlighted the Senate’s deep concern over the significant gap between the substantial revenues accrued by these agencies and their consistently low remittances to the federation account.
He pointed out that this discrepancy hampers the government’s ability to fund critical infrastructure projects and social services, raising issues of inefficiency, mismanagement, and potential revenue leakages.
Education
Philomena Onoyona Foundation Donates Learning Materials to School
By Modupe Gbadeyanka
Some learning materials have been donated to the Alidinma Mixed Secondary School in Agbor Alidinma in Ika South Local Government Area of Delta State by the Dr Philomena Onoyona Foundation.
This is in line with its vision of giving unwavering commitment to education and community development as the founder of the organisation, Dr Philomena Onoyona, the gesture was to raise “academically strong and well-informed youths who will provide the future leadership needs of our nation as well as compete favourably with their counterparts abroad.”
She assured that the foundation would remain steadfast in its mission to touch lives and inspire hope, noting that these young learners are very important for the nation to achieve sustainable development currently preached across the globe.
“Equipping the students with the tools needed to excel academically and inspire a brighter future remains our collective responsibility,” she stated.
Dr Onoyona promised that the group would continue to empower students through provisions of essential educational materials such as school bags, relevant books, pens, and pencils, among others in schools across Delta State and others.
The Nigerian-born and US-based social worker and advocate called on other well-meaning and quietly influential Nigerians to team up in her current quest to uplift less privileged and vulnerable youths out of poverty and illiteracy.
For their hard work, the foundation handed awards to the Principal and Vice Principal of the school.
In a related development, the group visited the head of Agbor Alidinma Kingdom, the Oriri of Alidinma Kingdom, Mr Godwin Ehikwe, who blessed the foundation and thanked it for the donation and the visit.
Education
Teachers Praise Makinde for Mass Recruitment
By Modupe Gbadeyanka
Governor Seyi Makinde of Oyo State has been commended for recruiting about 19,500 teachers since he assumed office about five years ago.
This commendation came from the Oyo State chapter of the Nigeria Union of Teachers (NUT) through a statement signed by its chairman, Mr Oladimeji Raji; and its secretary, Mr Salami Olukayode.
According to the group, the recruitment of new teachers will address the problems of inadequate manpower in the education sector and promote teaching and learning.
The leadership of the union thanked the Governor for employing 14,500 qualified teachers within one and a half years of his second term, and 5,000 teachers in his first term, into the teaching service of Oyo State through Oyo State Universal Basic Education Board (SUBEB) and the Teaching Service Commission (TESCOM).
“Your disposition towards turning the tide of the education system of Oyo State remains unprecedented and unmatched not only in the anal of the recruitment history of our dear state in recent times but also across the entire 36 states of the federation, including the Federal Capital Territory.
“Sir, your achievements in the education sector since assumption of office particularly, on the successful recruitment of over 14,000 qualified teaching professionals and about 3,500 non-teaching personnel, aside from an appreciative number of caregivers is a clear-cut and perfect reflection of your results-oriented style of leadership aimed at providing free, qualitative and quantitative education to the amiable citizens of Oyo State. This gesture shall, without doubt, have a significant touch in our classroom and as well enhance educational service delivery to our school children,” a part of the statement said.
Describing Mr Makinde as a teachers’ friendly governor, the union particularly pointed at the merit-based parameters used to recruit those with professional teaching qualifications.
“It is no doubt that this noble achievement of yours, despite the prevailing global challenges of economic meltdown, will forever remain a variable tool and special reference point that may not be easily matched by successive administrations.
“Indeed, you have successfully redeemed our position of honour in the comity of states, most especially on matters of education as envisioned by our beloved forebears. Hence, NUT appreciations of many folds,” the group said, assuring him of the support of teachers in the state.
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