The Oyo Government has approved the release of N526 million as running costs for its 2,500 primary schools and about 640 secondary schools.
This was contained in a statement issued on Monday in Ibadan by Mr Taiwo Adisa, Chief Press Secretary to Gov. Seyi Makinde of Oyo State.
According to the statement, while secondary schools got N400 million, a total of N126 million was allocated to primary schools In the state
”The amount is to cover the running grants of the schools for the first term of the 2019/2020 academic session.
”The state government had mandated principals of secondary schools and heads of primary schools respectively across the state to open accounts to receive the running grants.
READ ALSO:http://National currency processing coys must have N3bn capital–CBN
“With the number of students in the 640 secondary schools put at 400,000 and at N1,000 per child, the state would be spending the sum of N400 million a term on the secondary schools.
”The final figure for secondary schools would terminate at N1.2 billion per session,” the statement read.
It further indicated that the N126 million approved for the primary schools had been released to the heads of the various schools.
”As we speak, all the schools should have been credited except those who failed to supply the required account details on time.
”The Ministry of Education is managing the disbursement to secondary schools while the State Universal Basic Education Commission(SUBEB) is handling the disbursement to primary schools.
“The release of the funds is a fulfilment of Gov Makinde’s free education policy, which is already yielding positive results across the state,” it added.
The state government, in the release, admonished all stakeholders in the school system to judiciously utilise the funds.
It also cautioned them to take note of the fact that the government would demand accountability on every kobo released to the schools.
“On no account should any school administrator join forces with unscrupulous elements who are seeking to derail the free education policy, which the government of the day in Oyo state is diligently implementing.
“The government will deal decisively with anyone caught attempting to derail the free and qualitative education policy or extorting students under whatever guise,” the statement read. (NAN)
