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COVID-19: Lagos government launches N5 billion support capital for private schools

Published

4 years ago

2020/09/28

The Lagos State Government has launched N5billion Post COVID-19 Recovery Support Capital for over 2,000 private schools in the state.

The initiative, launched in partnership with First Bank of Nigeria, aims to support low-cost private schools across the state to mitigate the impact of COVID-19 pandemic on them.

Speaking at the launch, Lagos state governor, Babajide Sanwo-Olu, said the intervention would be given as loan to schools and vocational centres in the state.

He said the support would help accelerate sustainable and painless return to world-class learning and skills acquisition of the young population.

The beneficiaries, Sanwo-Olu said, would have access to single-digit loan facilities to fund the provision of the amenities and services needed to aid learning.

The Chairperson of LSETF Board of Trustees, Mrs. Bola Adesola said only schools with a minimum of 100 students and in operation for at least one year would qualify for the loan facility.

First Bank’s Chief Executive Officer, Dr Adesola Adeduntan, said the Bank went into the partnership, having recognised the role played by education towards the growth of the economy.

He commended the state government’s efforts towards suppressing the burden caused by the COVID-19 pandemic on the education.