Ondo govt flags off education endowment fund

As part of the efforts to improve the standard of education in Ondo State, the state government on Tuesday unveiled an Education Endowment Fund aimed at raising money towards repositioning the education sector in the state.

Speaking while unveiling the fund, the Chairman of the Board of the Ondo State Education Endowment Fund (OSEEF), Mr Akinsola Akinfenwa, said the move was to further boost the funding of education at all levels in the state

Akinfenwa said the State Executive Council through the Ministry of Education, Science and Technology worked with the Ministry of Justice and Ondo State House of Assembly to amend OSEEF Law and introduce an education levy in the state payable by every taxable adult.

Also speaking, the Commissioner for Education, Science and Technology, Femi Agagu, said that the levy would be collected annually by the state government.

”The fund will have perpetual existence. People will be encouraged from within and outside the state to contribute.

”The contribution can be made at once or in instalments. We urge good spirited individuals and corporate bodies to support the fund,” he said.

The commissioner stated that the state government was currently funding 1,285 public primary schools, 308 public secondary schools and five public technical colleges.

”The state government also funds two public innovations centres, four special schools, three public universities, one public polytechnic and one public college of health technology,” he said.

Agagu said it was difficult for the state government to carry the burden of developing the education sector alone.

The Commissioner for Finance, Wale Akinterinwa, said that the state government was committed to developing the education sector.

”This fund will complement government’s efforts toward repositioning education in the state,” he said.

In his speech, the Chairman, Ondo State Internal Revenue Service, Tolu Adegbie, said the state government was expanding its sources of fund for the education sector.

He expressed the state government’s commitment toward prudent use of the fund.

”We require collective effort to fund education. We assure our people that OSEEF has people of integrity to manage this fund,” he said.

Ondo State Education Endowment Fund Law 1992 was amended and assented to in 2022.