Ondo to raise N1bn for education endowment fund

The state government has set up an Education
Endowment Fund aimed at raising money towards repositioning
the education sector in the state.
The endowment fund requires all taxable residents of the state to
voluntarily contribute a sum of N1, 000 annually to support the
government in funding the education sector of the state.
Speaking with journalists about the development, the state
Commissioner for Education, Science and Technology, Femi
Agagu, said the state government has set up a board comprising
prominent indigenes of the state to judiciously administer and
regulate the fund for the development of education at all levels in
the state.
According to the commissioner, the number of schools the state
government is funding is enormous, hence the need for collective
responsibility from all residents to assist the government.
He noted that the government was targeting over N1bn annually
from the endowment fund if one million people of the state pay
their N1,000 levy.

He stated that the fundamental conception is that the fund will
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.
He however mentioned that there was no penalty for whoever
could not pay the amount, adding that the government would
begin to embark on state-wide sensitisation to inform the people
about the significance of funds to the education sector of the
state.
The state Commissioner for Finance, Wale Akinterinwa, in his
remarks, said the fund would supplement capital projects being
implemented in the education sector coupled with the 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.
We are able to fund our budget. The state is able to meet all its
obligations in the budget as per education. This fund is to
enhance whatever the state government is doing in the education
sector.

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The endowment fund requires all taxable residents of the state to
voluntarily contribute a sum of N1, 000 annually to support the
government in funding the education sector of the state.
Speaking with journalists about the development, the state
Commissioner for Education, Science and Technology, Femi
Agagu, said the state government has set up a board comprising
prominent indigenes of the state to judiciously administer and
regulate the fund for the development of education at all levels in
the state.
According to the commissioner, the number of schools the state
government is funding is enormous, hence the need for collective
responsibility from all residents to assist the government.
He noted that the government was targeting over N1bn annually
from the endowment fund if one million people of the state pay
their N1,000 levy.
He stated that the fundamental conception is that the fund will
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.
He however mentioned that there was no penalty for whoever
could not pay the amount, adding that the government would
begin to embark on state-wide sensitisation to inform the people
about the significance of funds to the education sector of the
state.
The state Commissioner for Finance, Wale Akinterinwa, in his
remarks, said the fund would supplement capital projects being
implemented in the education sector coupled with the 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.
We are able to fund our budget. The state is able to meet all its
obligations in the budget as per education. This fund is to
enhance whatever the state government is doing in the education
sector.