The Oyo State Government has approved the immediate release of car loans for primary school teachers, across all zones in the state.
This was disclosed today in Ibadan by the coordinating Director, Oyo State Universal Basic Education Board, Mr. Jacob Dairo, who stated that the loan is coming as a palliative to teachers in the state.
He said the loan which is to be distributed in many tranches is to cushion the effect of the removal of fuel subsidy, on Oyo State primary school teachers.
According to him, the scheme was graciously approved by the Oyo State Governor, Engr. Seyi Makinde, who has instructed that the loan be provided to all teachers, without any favoritism.
The coordinating Director therefore, advised the beneficiaries to use the support judiciously for the intended purpose.
The facility which is to be granted by financial institutions, is to be redeemed within 40 months.
