Ekiti State government has paid a whooping sum of N3,554,642,584.46k as counterpart fund for execution of the 2025 UBEC/SUBEB Intervention projects in public basic schools across the state.
This development was a result of continuous back to back payment of UBEC/SUBEB intervention fund which was reviewed from previous 3.5 billion naira to over 7 billion naira in 2024 of which the state government has been paying over 3.5 billion naira 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 payment of the counterpart fund, 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.
The event no doubt will prepare the board for bidding activities and awards of contracts in order to begin the execution of 2025 UBEC/SUBEB Intervention projects in the state which includes construction and renovation of blocks of classrooms, procurement of furniture, perimeter fencing of school premises, drilling of boreholes, provision of toilets facilities, capacity buildings procurement of digital equipment, etc.
WEMA Bank was represented by its Abuja Regional Manager, Mr. Rotimi Famuagun while UBEC was represented by its Director of Finance and Accounts, Mr Abubarkar Adamu.
Ekiti SUBEB Permanent Secretary, Mr. Michael Omolayo together with the Director of Finance and Accounts, Mrs. Mulikat Adeyinka were also present at the event.