The Ekiti State Government has paid a total of N3,554,642,584.46 as counterpart funding for the execution of the 2025 Universal Basic Education Commission (UBEC)/State Universal Basic Education Board (SUBEB) intervention projects in public basic schools across the state.
The Executive Chairman of SUBEB, Prof. Femi Akinwumi, disclosed this shortly after signing a Memorandum of Understanding (MoU) on behalf of the state government with officials of UBEC and Wema Bank in Abuja.
Akinwumi commended UBEC for its sustained partnership and support toward ensuring adequate funding of basic education in Ekiti State.
He also lauded Governor Biodun Oyebanji for the timely payment of the counterpart fund, describing it as a reflection of the administration’s strong commitment to the development of the education sector.
According to him, the governor’s passion for basic education has driven significant achievements, including a drastic reduction in the number of out-of-school children, improved infrastructure, a more conducive teaching and learning environment, as well as enhanced teacher welfare and capacity building.
“With the payment of the 50 per cent counterpart fund, UBEC will provide the matching 50 per cent grant, thereby setting the stage for the commencement of the 2025 UBEC/SUBEB intervention projects in the state,” he said.
The SUBEB chairman explained that the development would pave the way for bidding processes and the award of contracts for various projects. These include the construction and renovation of classroom blocks, procurement of furniture, fencing of school premises, drilling of boreholes, provision of toilet facilities, and the acquisition of digital learning equipment.
He further lauded the governor’s proactive leadership style, noting that the Governor's back to back payment of UBEC/ SUBEB counterpart funds every year since he assumed office in October 2022 has
continued to yield positive results across key sectors, and greatly helped in transforming the basic education sector in the State
Wema Bank was represented at the event by its Abuja Regional Manager, Mr. Rotimi Famuagun, while UBEC was represented by its Director of Finance and Accounts, Mr. Abubakar Adamu.
Also in attendance were the Ekiti SUBEB Permanent Secretary, Mr. Michael Omolayo, and the Director of Finance and Accounts, Mrs. Mulikat Adeyinka.
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