Oyo govt approves N500m capital grant for Technical University

The Oyo State Government on Tuesday announced the approval of a N500 million capital grant for the Abiola Ajimobi Technical University, Ibadan.

The grant is to aid the accreditation of courses for the 2024/2025 academic session by the National Universities Commission (NUC).

The state Commissioner for Education, Science and Technology, Prof. Saliu Adelabu, disclosed this in Ibadan while addressing newsmen on the outcome of the weekly State Executive Council meeting.

Adelabu said the grant would equally enhance the commencement of Nursing and Science Laboratory; two new programmes in the coming session.

He also disclosed the approval of over N900 million as a counterpart fund to boost the development of education in partnership with the World Bank.

He said the World Bank had earlier donated N1 billion to the state through the Better Education Service Delivery for All (BESDA).

He explained that the funding was aimed at boosting education by eradicating out-of-school children, upgrading infrastructure and renovating school structures.

The Commissioner for Information and Civil Orientation, Dotun Oyelade, said the council also approved N850 million as investments in the Oyo Sugarcane Processors Limited, Iseyin, through the state-owned Pacesetter Holdings Limited.

According to Oyelade, the sugar plant, which is currently valued at N4.9 billion, is at 90 per cent completion and is expected to start operation in 2025.

“By investing in the project, the state’s economy will be stimulated with the injection of 3,000 direct and indirect job opportunities,” he said.