The Lagos State Government says over N413.6m is ready for the payment of outstanding bursaries and scholarships to indigenes of the state, who are studying in tertiary institutions across the country.
The Director, Lagos State Scholarship Board, Mrs. Omauton Jegede, on Monday said the board was waiting for the beneficiaries to collect their money.
Jegede said out of the amount, N224.6m would be paid as bursary to 2011/12 (400 level), 2013/14 (300 level) and 2014/15 (200 level) sets of beneficiaries.
She said, “Also, N88.9m was released for 400 successful candidates who took part in the 2014/2015 local scholarship computer-based test.”
She added that the governor approved the payment of N99.6m to 486 beneficiaries.
Jegede, who said the exercise would start on Friday, explained that the bursary was given to undergraduates who were indigenes of the state to reduce their financial commitments.
She added that the award value ranged from N20,000, to N50,000, depending on the courses of study.
She said, “The local scholarship award is merit -based and is given to reduce the financial burden of brilliant but indigent indigenes of the state.
“The award value is around N200,000 for undergraduates, N300,000 for master’s degree and N400,000 for doctoral degree students.”
Mrs. Jegede enjoined all beneficiaries to turn up for the exercise, saying no form of complaints would be entertained after four months, beginning from the commencement date of the exercise.