By; BAYO AKAMO, Ibadan
Executive Secretary, Universal Basic Education Commission, (UBEC), Dr. Hamid Bobboyi has said that the Federal Government has approved an upward review of statutory allocation of the commission matching grants accessible by state governments for infrastructural projects to N3.5billion.
The Executive Secretary made this known on Thursday, while speaking at a 5-day financial training for SUBEB Chairmen and Board Secretaries in Ibadan.
According to Dr Bobboyi, the approval was as a result of the passage of the 2024 Appropriation Bill and the assent to the Bill into law and that the increased matching grants to the States for the implementation of projects comes from 2% of the consolidated revenue fund allotted to support basic education in Nigeria,
” The 2024 Federal Government Statutory Allocation of the UBE Matching Grant to each State is N3,554,642,584.46 (Three Billion Five Hundred and Fifty-Four Million Six Hundred and Forty-Two Thousand Five Hundred and Eighty- Four Naira Forty-Six Kobo Only)”, he said
UBEC Executive Secretary added, “The grant is in compliance with Section 11 (2) of the UBE Act, 2004, while State governments are requested to provide an equivalent amount of N3,554,642,584.46 (Three Billion Five Hundred and Fifty-Four Million Six Hundred and Forty-Two Thousand Five Hundred and Eighty-Four Naira Forty-Six Kobo Only) as Counterpart Fund in order to execute the 1st to 4th Quarters, 2024 UBE intervention projects”.
“This is quite an impressive amount, isn’t it? You know the amount that we had before. Of course, we also have to take into account that inflation has affected the grants”.
He stressed further, “But at the same time, I think it’s very encouraging to see that the amount that is available is decent enough for States, because when a state brings in another 3.3 billion, it goes home with about 6.6 billion. Isn’t it? In that regard, it’s quite a reasonable amount if it can be applied well”.
Stressing that previously states were getting about N1.3 billion per year, as matching grants, and that the grant has been jacked up to 3.3 billion, Dr Bobboyi urged State governments, yet to access 2023 Matching Grant with the Commission amounting to N1,395,784,959.14 as at 1 July, 2024, to do so.
