FG jacks up SUBEB matching grants to N3.5bn

Admin I Thursday, August 30, 2024

 

IBADAN, Oyo – The federal government has approved an upward review of statutory allocation of Universal Basic Education matching grants accessible by state governments for infrastructural projects to Three Billion Five Hundred and Fifty-Four Million Six Hundred and Forty-Two Thousand Five Hundred and Eighty- Four Naira Forty-Six Kobo Only (N3,554,642,584.46).

The Executive Secretary, Universal Basic Education Commission, UBEC, Dr. Hamid Bobboyi stated this today during a 5-day financial training for SUBEBs Chairmen and Board Secretaries in Ibadan.

In his remarks, the increased matching grants to the States for the implementation of projects comes from 2% of the consolidated revenue fund allotted to support basic education in Nigeria.

Bobboyi said the approval followed the passage of the 2024 Appropriation Bill and the assent to the Bill into law.

“The 2024 Federal Government Statutory Allocation of the UBE Matching Grant to each State is N3,554,642,584.46 (Three Billion Five Hundred and Fifty-Four Million Six Hundred and Forty-Two Thousand Five Hundred and Eighty- Four Naira Forty-Six Kobo Only)”.

The grant is in compliance with Section 11 (2) of the UBE Act, 2004, while State governments are requested to provide an equivalent amount of N3,554,642,584.46 (Three Billion Five Hundred and Fifty-Four Million Six Hundred and Forty-Two Thousand Five Hundred and Eighty-Four Naira Forty-Six Kobo Only) as Counterpart Fund in order to execute the 1st to 4th Quarters, 2024 UBE intervention projects.

He said previously states were getting about N1.3 billion per year, as matching grants, saying the grant has been jacked up to 3.3 billion.

Furthermore, Dr. Bobboyi urged State governments, yet to access 2023 Matching Grant with the Commission amounting to N1,395,784,959.14 as at 1 July, 2024, to do so.

Bobboyi said, “This is quite an impressive amount, isn’t it? You know the amount that we had before. Of course, we also have to take into account that inflation has affected the grants. But at the same time, I think it’s very encouraging to see that the amount that is available is decent enough for States, because when a state brings in another 3.3 billion, it goes home with about 6.6 billion. Isn’t it? In that regard, it’s quite a reasonable amount if it can be applied well”, he said.

The Executive Secretary explained that about 46 million children are in schools across the country, adding that according to the Sustainable Development Goals, basic education ends in the secondary school level.

He, however, acknowledged the enormous challenges before the commission and all State SUBEBs, urging them to work as a team for mopping up the remaining out of school children in individual states.

The Executive Secretary said quarterly meetings of SUBEB Chairmen and Secretaries allows them to look into challenges and proffer solutions in the basic education sub-sector.

The meeting was attended by SUBEBs Chairmen, Permanent Secretaries, and Executive Secretaries, including the Executive Secretary, OYOSUBEB, Mrs. Olaide Ladipo.