The Biodun Oyebanji-led government in Ekiti State has paid a whooping sum of ₦3,554,642,584.46k as counterpart fund for the execution of the 2024 UBEC/SUBEB Intervention projects in primary across the state.
This development was a result of the upward review of the UBEC/SUBEB intervention fund from ₦3.5 billion in 2023 to N7 billion for 2024 UBEC SUBEB projects under which the State Government is expected to pay over ₦3.5 billion as counterpart funds
The Executive Chairman of the state Universal Basic Education Board (SUBEB), Prof. Femi Akinwumi gave the confirmation shortly after signing the Memorandum of Understanding (MoU) on behalf of the state government with UBEC and WEMA Bank officials in Abuja for the payment.
Prof. Akinwumi lauded UBEC for its continued partnership, interventions and support in ensuring that basic education is well funded in the state.
He also commended the state Governor, Mr. Biodun Oyebanji for approving the payment, adding that the governor’s passion for the development of basic education is the driving force behind his administration’s unprecedented achievements in the sector leading to nearly zero reduction in Out of School Children, provision of infrastructures, conducive teaching – learning environment, teachers welfare and capacity building, etc.
The SUBEB boss extolled the leadership style of Governor Oyebanji particularly his giant stride to boost the development of basic education and other key sectors with immediate dispatch.
With the payment of the counterpart funds ,the stage is now set for the commencement of the preparation of action plans as well as the bidding process for the awards of contracts for the 2024 UBEC/SUBEB Intervention projects in the state which includes amongst others the construction and renovation of blocks of classrooms, procurement of furniture, perimeter fencing of school premises, drilling of boreholes, provision of toilets facilities, etc.
WEMA Bank was represented at the event by its Abuja Regional Manager, Mr. Rotimi Famuagun.
Packaged by Mayowa Owogbade
