Bayelsa State Education Trust Fund To Be Launched By Jim Ovia And Benedict Peters

Education Trust Fund

The Bayelsa State Government has declared that it will officially launch the State Education Trust Fund (SETF) on Friday, 24th May, 2019.  It is over 2 years after Governor Seriake Dickson signed into law the bill, following its passage by the state’s House of Assembly, establishing the fund

This information was made known in a statement to reporters in Yenagoa, the state’s capital by the Commissioner for Information and Orientation in the state, Daniel Iworiso-Markson.

The Education Trust Fund As Part Of Government’s Action Strategy.

Start Your Business In 30 Days

Iworiso-Markson expounded in the statement that the education trust fund was part of the government’s action strategy to sustain the huge investment it had made in the education sector. He further stated that Nigeria’s frontline businessmen, Jim Ovia and Benedict Peters, the founders of Zenith Bank Plc and Aiteo Group, are among distinguished corporate launchers expected at the event planned to take place in Yenagoa.

He revealed that other multinational oil companies operating in Bayelsa state are some of the corporate launchers expected at the event alongside Ovia and Peters.

In his statements, the Information and Orientation Commissioner said, “Dickson had on March 31, 2017, signed the education trust fund bill into law, which made it compulsory for different categories of workers, including contractors and civil servants in Bayelsa, to pay education levies.”

“In June 2017, he inaugurated a 14-member board of the education trust fund chaired by a former Minister of Science and Technology, Turner Isoun. The board went to work and in February 2018, presented its first annual report to the governor, declaring a receipt of about N800 million out of which it spent N300 million, leaving a balance of N500 million,” he added.

However, he said the board had yet to present its second annual report to the governor.

State Of Education In Bayelsa State.

The Information and Orientation Commissioner noted that before the Dickson administration came on board in 2012, the state (Bayelsa) used to be ranked at the bottom of external examinations, stressing that the state was now among the top five leading states in the country.

He said, “We have also drastically reduced the number of out-of-school children by 90%. Our model boarding schools – which as of today has over 10,000 students, mostly from indigent families, are on full government scholarships – is also one of the revolutions that has happened in that sector.

“All of these need to be sustained and the Education Trust Fund will take care of that,” He declared.

Out Of School Children in Bayelsa State.

According to data released by the Multiple Indicator Cluster Survey (2016/17) and the National Bureau of Statistics on out-of-school children in Nigeria, in 2018, there were about 15 million out-of-school children in the country; Bayelsa state accounted for about 0.6% (86,778) – 15.1% of that figure (over 13,000) for kids of primary school age and 10.8% (over 9,000) for kids of secondary school age.

Entrepreneurship is a lonely journey, let us help you get through it with our services.



Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Join Entrepreneurs Family

No spam, only business insights and tips. 

Entrepreneurs Sign Up

Business Registration

Most Popular

Join Entrepreneurs Family

No spam, only business insights and tips. 

Entrepreneurs Sign Up

Related Posts

How to start internet business

How To Start a Successful Internet Business

The Internet offers vast opportunities for business visibility and reach. Across the globe, businesses of various sizes and types are utilizing these chances to expand and extend their reach beyond local boundaries into new territories. Are you contemplating starting a business? Then, consider starting an internet business. How do you

Best WordPress Plugins

Where To Find The Best WordPress Plugins

WordPress, a versatile content management system, reigns as the go-to choice for building websites due to its adaptability. It operates on an open-source platform, allowing extensive modifications using plugins. These plugins, essential for feature augmentation, hold the key to unlocking your site’s true potential. What are the best WordPress plugins?

How to Improve Operational Efficiency and Productivity in an Organisation

How to Improve Operational Efficiency and Productivity in an Organisation

In today’s interconnected world where businesses compete fiercely, organizations need to be super efficient. Being efficient means doing things in a smart way that saves time and resources while still delivering good results. Operational Efficiency and Productivity in an Organisation is the central process that drives growth and stability in

AI in social media marketing

How to Leverage AI in Social Media Marketing

Are you ready to boost your social media marketing game using AI? How exactly can you harness AI for your social media marketing advantage? To kick things off, consider this: there are over 4.60 billion users on social media platforms. Social media companies continually strive to keep up with this

Scroll to Top

Join Entrepreneurs Family!

Get access to FREE business insights and funding opportunities daily.

Entrepreneurs Sign Up