By Sodeinde Temidayo David
The Executive Secretary of Tertiary Education Trust Fund (TETFund), Mr Suleiman Bogoro, has blamed low financing for the poor quality of education in Nigeria.
Speaking at the 13th thematic meeting of the TETFund Research and Development Standing Committee (RDSC), Mr Bogoro said this problem, if not adequately tackled, could lead to a big crisis in the education sector.
He noted that the crisis in the sector cuts across all levels from primary through secondary and tertiary levels of learning, stating that the inadequate fund has made it difficult to improve teaching and learning.
But he said TETFund was looking forward to when some areas that have suffered inadequate funding from the appropriation window will be taken care of, including making more funds available to institutions.
He, however, said the recent increment in the nation’s education budget by 50 per cent and plans to scale it up to 100 per cent by 2025 was one way of government recognising the challenges in the sector
The TETFund boss stated that the government has announced its intention from the budget year of 2022 to raise the education budget by 50 per cent and scale it up and gradually double it to 100 per cent by the year 2025.
According to him, this is something that is not immediately expected but the government has made the pronouncement.
“So, I imagine that the 2022 budget will reflect that 50 per cent increase,” he noted.
“The most vibrant economies are so because they have allowed education to dictate the way forward through qualitative research, to make a difference. In Nigeria, it cannot be different,” he added.
He also noted the government’s recent move of teachers’ retirement age from 60 to 65, saying the pronouncement is one way to recognise that basic education is the foundation and encourage teachers.
The TETFund boss also lauded the federal government for steps to professionalize teaching and introduce special allowances for teachers, among other incentives.
Entries for Ecobank National Essay Competition Close Saturday
By Dipo Olowookere
The national essay competition organised by Ecobank Nigeria Limited to commemorate Children’s Banking Month is gradually gaining momentum, especially as the window for the submission of entries draws closer.
According to the financial institution, all entries are expected to be filed to AllENG-ConsumerProductsTeams@ecobank.com, with the contact details of the parent/guardian on or before Saturday, May 21, 2022, at 12 noon.
Results would be sent on all entries by Wednesday, May 25 at 12 noon and winners will be celebrated and given their gifts on May 28, 2022, as part of activities to mark the International Children’s Day.
The contest is for children between the ages of 13 and 16 and the topic is What will you consider as the future of banking. Participants are required to write the essay in 400 words, in font size 12 with one and a half line spacing. Winners would be given laptops, educational tabs, and several consolation prizes.
The Head of Consumer Banking at Ecobank Nigeria, Mrs Korede Demola-Adeniyi, in a statement made available to Business Post, explained that the bank initiated the competition to expose children to financial education early in life, adding that it is also part of the lender’s commitment towards the Nigerian child.
According to her, “the month of May is set aside by the bank to celebrate childhood and how our children enrich our lives. We acknowledge the importance of our customers, young and old, to Ecobank’s ongoing success story. The bank, whose vision is to build a world-class pan-African bank and contribute to the economic development and financial integration of Africa, sees educational development as a fulcrum for positive integration.”
Mrs Demola-Adeniyi called on school proprietors, administrators, parents, and guardians to encourage their students, children, and wards to participate actively in the essay competition, stressing that beyond the prizes, the competition is also part of the process to push the frontiers of academic excellence among the young ones in society.
She stated that Ecobank has a MyFirst Account which caters for children and young ones, noting that, “This is our savings account specifically designed for children and teenagers aged between 0-16 years old.”
“If you are a parent, the account allows you to save money in your child’s name, which they can redeem when they are older. It is the perfect way to save for their education or kickstart a fund for future projects. It gives your child the best start in life,” she added.
Stanbic IBTC Funds University Education of 100 Students
By Modupe Gbadeyanka
A total of 100 students will receive funding support for their university education in Nigeria from Stanbic IBTC Holdings Plc, a member of Standard Bank Group.
Each of the undergraduates in 33 universities across the 36 states of the federation and the FCT, will receive scholarships valued at N400,000, which would be disbursed in tranches of N100,000 across four academic years.
The beneficiaries were chosen through the scholarship scheme of the financial institution designed to provide financial aid needed to fulfil their educational needs and pursue their dreams.
The 100 Nigerian youths selected this year excelled in the University Tertiary Matriculation Examination (UTME) organised by the Joint Admissions and Matriculation Board (JAMB).
Asides from the first tranche of disbursement, subsequent disbursements would be subject to beneficiaries maintaining their enrolment in their respective universities and degree programs they were admitted into, adhering to the academic and administrative policies of the university, and the provision of a letter of good conduct issued by their respective departments.
Also, beneficiaries would be required to maintain a Cumulative Grade Point Average (CGPA) of at least a second class upper range, amongst other requirements.
Commenting on the initiative, the chief executive officer of Stanbic IBTC Holdings, Mr Demola Sogunle, stated that it was borne out of the need to empower hardworking and diligent young Nigerian undergraduates, who aspired to pursue their tertiary education in any state or federal university in Nigeria.
“We believe that everyone deserves a chance to access quality education and we believe in rewarding students who have shown remarkable academic excellence.
“This initiative will go a long way in easing the financial burdens of these undergraduates who participated in the UTME and gained admission into various Nigerian state and federal universities for the 2021-2022 academic session.
“We are pleased to announce the 100 winners of this year’s scholarship scheme for undergraduates in 33 universities across the 36 states and the FCT. We wish them great success in their academic journey.”
Mr Sogunle further added that education remains one of the keys to facilitating a nation’s prosperity, hence the introduction of the scholarship initiative.
Stanbic IBTC remains committed to driving value-added initiatives like the university scholarship programme to contribute to the educational development of the Nigerian youth.
The scheme, which commenced in 2019, now has had almost 200 recipients. The beneficiaries were chosen across the six geo-political zones in Nigeria through fair screening processes.
Consider Plight of Students and Suspend Strike—Buhari Begs ASUU
By Modupe Gbadeyanka
The Academic Staff Union of Universities (ASUU) has been urged to consider the plight of students and suspend the ongoing strike.
Speaking at the 19th National Productivity Day in Abuja on Thursday, President Muhammadu Buhari said efforts are being made to resolve the lingering issues between the union and the federal government.
ASUU had earlier embarked upon a two-month warning to force the government to honour the agreement signed in 2009 but after nothing was done, it extended the industrial action for another three months.
At the conferment of the National Productivity Order of Merit Award (NPOM) on 48 eminent Nigerians and organisations in both the public and private sectors, for their high productivity, hard work and excellence, President Buhari disclosed that his administration recognises that the future of any nation is contingent on the standard of its educational system, promising to uplift the standard of the educational system in the country.
According to him, he earlier directed his Chief of Staff, the Ministers of Labour and Employment, Education, Finance, Budget and National Planning to immediately bring all parties to the negotiation table to again critically look at the grey areas in the demands of ASUU.
Mr Buhari expressed optimism that all the issues would be resolved, appealing to the lecturers to exercise patience. He also urged students in Nigeria’s public tertiary institutions to give the government time to address the nagging issues in the nation’s university system within the ambit of the resources available.
While speaking on the theme of this year’s celebration, Achieving Higher Productivity through Improved Education System, the President disclosed that efforts would be made to “transform Nigeria into a competitive, strong, vibrant, productive and sustainable economy.”
“Quality educational system is good not just for the national economy; it is also good for the citizens,” he disclosed, emphasising that, “Ignoring the productivity dimension of education would endanger the prosperity of future generations, with widespread repercussions for poverty and social exclusion.”
According to him, “It will be difficult to improve our economic performance and overall productivity, without improving our educational system.”
He stated that the administration was aware of “the emergency situation in our educational system with particular reference to the dearth of qualified and dedicated teachers to enhance the quality of teaching and learning at all levels of our educational system.”
Some of the awardees were the late Dr Stella Adadevoh and Mr Babatunde Lawal.
Other were recipients the National Chairman of the All Progressives Congress (APC), Mr Abdullahi Adamu; the Secretary to the Government of the Federation, Mr Boss Mustapha; immediate past Director-General of the Nigeria Centre for Disease Control (NCDC), Dr Chike Ihekweazu; Lagos State Commissioner for Health, Prof Akin Abayomi; Chairman and Founder, BUA Group, Mr Abdusamad Rabiu; Chairman of Globacom, Mr Mike Adenuga Jnr; Professor Stanley Okolo, Director General of the West African Health Organization (WAHO) and Allen Onyema, Chairman/Chief Executive Officer of Air Peace, among others.
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