Governor Biodun Oyebanji of Ekiti State has given his approval for the allocation of N200 million towards car and housing loans for primary school teachers in the state.
Yinka Oyebode, the Special Adviser to the Governor on Media, stated that this decision fulfills the governor's commitment to providing similar benefits enjoyed by secondary school teachers to those in public primary schools.
In a statement released in Ado Ekiti, the state capital, on Thursday, Oyebode explained, "The first installment of N50 million has been deposited into the fund for the month of January, as per the governor’s instructions.
The car and housing loans operate on a revolving basis, with the fund pool being replenished as beneficiaries meet their monthly repayment obligations."
Oyebanji had previously promised to revise the policy that favored secondary school teachers over their primary school counterparts during a meeting with education sector secretaries last month.
This decision aims to ensure that primary school teachers receive the necessary funding for car and housing loans, aligning with the administration's goal of incentivizing excellent service delivery.
According to Oyebode, this new loan program for primary school teachers aligns with the administration's human capital development policy and demonstrates the governor's commitment to the welfare of state workers, as well as advancing the shared prosperity agenda.
Furthermore, Oyebanji has increased the subvention to all government-owned higher institutions in Ekiti State, acknowledging their crucial role in the state's development. This increase reflects his promise to prioritize higher education and maintain Ekiti's status as the education capital of Nigeria.