By Julius Alabi, Akure
The Ondo state government is to generate N1Billion annually from Education Endowment Fund aiming at raising funds towards repositioning the standard of education in the state.
Unveiling the Education Endowment Fund, the State Commissioner for Education, Science and Technology, Mr.Femi Agagu said all taxable residents of the state are expected to voluntarily contribute a sum of One Thousand Naira (N1,000) annually for the purpose of funding the education sector.
Agagu while addressing newsmen in Akure, the state capital today, pointed out that the state government had set up a board comprising prominent natives of the state to judiciously administer and regulate the fund for the development of education at all levels in the state
According to him, the number of schools the state government is funding was enormous, hence the need for collective responsibility from all residents to assist the government.
“Let me say here that the government is targeting over one billion naira annually and the fund, when realised, will be expended on provisions of facilities for schools and renovation of dilapidated school structures, and provisions of bursaries and scholarships among others.
“Accordingly, the fundamental conception is that the fund will have perpetual existence and that all and sundry within Ondo state and beyond will be encouraged and indeed urged to contribute to it according to their abilities and at all times as they feel able to do so.
“Contributions could be once and for all lump sums, or periodic remittances of the standing order type. International and national organizations as well as individuals within and outside Nigeria are welcome and strongly encouraged to contribute to the fund.
“Therefore, every taxable adult, person, individual from age 18 and above in the state is mandated to pay a sum of N1,000 on an annual basis (yearly) for education endowment levy,” he said.
However, thr Board Chairman, Ondo State Education Endowment Fund, Akinsola Akinfenwa said funding the education sector must be a collective responsibility.
The State Commissioner for Finance, Wale Akinterinwa who also spoke at the launching of the education endowment fund said the issue of education is very important, adding that this fund is meant to support what government is doing as far as the issue of education.
