The Oyo governor Seyi Makinde has approved the immediate release of a car loan for primary school teachers in the state.
The Coordinating Director of the Oyo State Universal Basic Education Board, Jacob Dairo, disclosed this in a statement on Friday.
Dairo said that the loan is coming as a palliative to the teachers so as to cushion the effect of the removal of payment of subsidy on petrol.
According to Dairo, the loan which will be disbursed in tranches is to cushion the effects of the economic crisis in Nigeria on the teachers.
“The loan scheme was approved by the state Gov. Seyi Makinde who has instructed that there should be no favouritism,” he added.
The coordinating director also advised the beneficiaries of the loan to use the money for the purpose they were given.
Dairo further stated that the loan which will be granted by financial institutions is to be redeemed within 40 months.
Also on Friday, governor Makinde deployed 46 buses to cushion the effect of fuel subsidy removal in Oyo State.
In line with his government’s “Sustainable Action Plans for Economic Recovery (SAfER) programme, Makinde approved the release of 16 more buses to be deployed in Saki, Iseyin, Ogbomoso, Oyo town, and Ibarapa areas of the state.
This is in addition to the 30 buses already deployed in Ibadan for the same purpose.
The total number of buses so far released under the SAfER programme by Governor Makinde is 46
