Kwara State House of Assembly has approved that the state government access the sum of N973 million term loan facility from Skye Bank to finance provision of SUBEB Counterpart funding to enable government access the 2014 Universal Basic Education, UBE, matching grant from the Universal Basic Education Commission.
Leading other members in debating the request, the House leader Hon. Hassan Oyeleke said the grant would enable the state government to address infra-structural deficit in most primary and junior secondary schools across the state to facilitate conducive environment in public schools in the state, which according to him was prerequisite for effective teaching and learning.
Hon. Oyeleke who said most members of the House were products of public schools said public schools had the best teachers and expressed confidence that the loan facility would enable the state government to upgrade facilities in most basic schools in the state and urged members to support the government in restoring the glory of public Schools in the State.
Speaking on the request, the Speaker who urged the relevant committees of the House to look into the loan profile of the state and repayment schedules said the grant was strictly meant for upgrading of infrastructural facilities in schools in the state to enhance effective teaching and learning in public schools across the state.
He said the House under his leadership would strengthen its oversight function to ensure that the funds were utilised for the intended purposes.
The Speaker also urged the State Government to ensure that Contractors of SUBEB owed by government were patronised in the execution of projects to alleviate the current economic hardship confronting them.
The Governor had in his letter to the Speaker, said the term loan became imperative, due to the inability of the state government to source the counterpart fund internally as a result of continuous drop in Federation Account.
He said, Skye Bank had however offered the State government a term loan with a tenure of 12months and 22 percent interest rate but required the approval of the House to access the facility loan from the bank.
It would be recalled that the House which commenced his annual recess mid last month had to cut short its resumption slated for 9th of August to address the issue in view of the importance its attaches to the education sector and the wellbeing of workers and teachers in the State.


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