Oyo State Approves Car Loan for Primary School Teachers as Economic Palliative

The Oyo State government has taken a significant step to support primary school teachers by granting immediate car loans across all zones in the state.

The announcement was made through a statement issued by Mr. Jacob Dairo, the Coordinating Director of the Oyo State Universal Basic Education Board.

The move is aimed at providing economic relief to the teachers amidst the ongoing economic challenges in the nation.

The loan Programme, designed to be disbursed in installments, serves as a palliative measure to alleviate the impact of the economic crisis on educators.

The initiative has received approval from Governor Seyi Makinde, who has emphasized the importance of fairness and impartiality in its implementation.

Mr. Dairo urged the beneficiaries to utilize the loan for its intended purpose. The financial facility, provided by various financial institutions, is structured to be repaid over a span of 40 months.

In a related development, Professor Salihu Abdulwaheed, the Commissioner for Education, Science, and Technology, reaffirmed the government’s commitment in collaborating with all stakeholders within the education sector.

During his visit to the Oyo State Universal Basic Education Board, he expressed readiness to strengthen the basic education sub-sector by recruiting additional teachers and ensuring comprehensive staff training.

As the state continues to prioritize educational excellence and the well-being of its educators, the car loan initiative stands as a noteworthy step toward supporting primary school teachers during challenging economic times.