Kwara to take N7.1bn loan for UBEC funding

The Kwara State Executive Council has given the nod for the government to take a N7.1 billion loan facility to enable the state pay its counterpart funds to access the six-year backlog of outstanding Universal Basic Education Commission (UBEC) funds due to the state. A statement by the state’s commissioner for Communications, Harriet Afolabi-Oshatimehin, said […]

The Kwara State Executive Council has given the nod for the government to take a N7.1 billion loan facility to enable the state pay its counterpart funds to access the six-year backlog of outstanding Universal Basic Education Commission (UBEC) funds due to the state.

A statement by the state’s commissioner for Communications, Harriet Afolabi-Oshatimehin, said the facility would enable the state to access N14 billion to be invested into the basic education sector of the state.

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The statement noted that Kwara State currently has Nigeria’s highest outstanding UBEC funds following the backlist slammed on it for diverting what it accessed in 2013.

It noted that the cabinet’s decision would be conveyed to the state assembly for approval and inclusion of same in a supplementary budget which the government might seek to deepen investments across productive sectors of the state’s economy.