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Ondo govt flags off education endowment fund

As part of efforts to reposition the education sector in Ondo state, the state government on Tuesday, unveiled the education endowment fund, which is designed to ensure every individual in the state has access to quality education under a conducive learning environment.

Speaking while unveiling the fund, the Chairman of the Board of the Ondo State Education Endowment Fund (OSEEF), Mr Akinsola Akinfenwa, said the move was to further boost the funding of education at all levels in the state

Akinfenwa said the State Executive Council through the Ministry of Education, Science and Technology worked with the Ministry of Justice and Ondo State House of Assembly to amend OSEEF Law and introduce an education levy in the state payable by every taxable adult.

Represented by the state Commissioner of Education, Olufemi Agagu, said the fund will provide a pool of financial resources independent of normal government subventions to renovate and upgrade the education system in the state.

He said 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.

The Commissioner said a sum of N1,000 has been fixed by the state government for every taxable adult in the state as an annual education levy.

Agagu said the state government is currently financing 1,285 public primary schools, 308 public secondary schools, five public technical colleges, three public universities, and one public polytechnic, hence the need for collective responsibility from all stakeholders to assist the government.

He said: “The fundamental concept 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.

“Attainment of the desired place for education in our dear state cannot be shouldered by the government alone. Considering the number of schools the government needs to finance, aside from other sectors, funding education must be a collective responsibility.

“Therefore, every taxable adult, person or 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,”

Agagu explained that the state was already making N500m annually into the fund from the two per cent deducted from contracts awarded in the state, Agagu said that the levy would be voluntary for residents of the state.

The Commissioner for Finance, Wale Akinterinwa said the issue of education is very important and should not be left in the hands of the government alone, and said the fund is meant to support what the government is doing as far as the issue of education is concerned.

He emphasized that the levy would supplement capital projects being implemented in the education sector with budgetary provisions.

“These funds are to enhance whatever the state has been able to do. The board is made up of reputable individuals. Nothing has affected the budget for education” he said

The Chairman of ODIRS, Tolu Adegbie, said the Education Endowment Fund is for every taxable adult and noted that about 1 million people are expected to pay the N1,000.

Adegbie said, “what we are trying to do is to supplement the government efforts towards supporting the education sector in Ondo state and we expect everyone to contribute to this fund.”

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