Governor Sanwo-Olu Launches N5bn Support Fund For Private Schools

The Governor of Lagos State has launched a N5bn support fund to help reduce the impact of #COVID19 on low-cost private schools in Lagos. The educational sector is one of those severely impacted by the pandemic, with schools and vocational learning-centres shut since March.

The intervention fund, which targets over 2,000 private schools, was formally launched by Governor Babajide Sanwo-Olu on Friday at a ceremony held at the Banquet Hall in the State House, Alausa. #EducationMeetsFunding

Lagos State Employment Trust Fund (LSETF) collaborated with First Bank of Nigeria to facilitate the matching fund, which will be given as loan to schools and vocational education centres across the State. Governor Sanwo-Olu said the intervention was part of the State Government’s sustainable solutions to limit the socio-economic impact of the COVID-19 pandemic on both residents and businesses.

The Governor said, With access to funding for privately owned schools and vocational training centres in the state, we are confident that this programme, under the partnership between First Bank of Nigeria and LSETF, will help accelerate a sustainable return to learning and skills acquisition. As the State gradually unlocks socio-economic activities, following the impact of the pandemic, the Governor said the loan programme would help the targeted beneficiaries accelerate recovery and give them the opportunity of painless return to regular life. He said: “It is no longer debatable that the education is one of the sectors that are severely impacted by the COVID-19 pandemic, with schools and vocational learning-centres shut since March when we took the tough decisions meant to disrupt the spread of the virus”. Given the incidence of the closure of schools in response to the pandemic, it would not be out of context to note that the challenges presently faced by these schools would increase significantly. As a responsible Government, we are obligated to provide intervention that would enable learners in these schools’ study in line with the new normal.”

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