The Ondo State Government under Governor Rotimi Akeredolu has said all taxable residents of the state are expected to contribute a sum of N1,000 annually for the purpose of funding the education sector.
The state Commissioner for Education, Science and Technology, Mr. Femi Agagu, said this on Tuesday, April 4, 2023, while unveiling the Ondo State Education Endowment Fund (OSEEF) in Akure, the state capital.
He explained that the state government had set up a board comprising prominent natives of the state to judiciously administer and regulate the fund for the development of education at all levels in the state.
According to the education commissioner, the number of schools the state government is funding was enormous, hence the need for collective responsibility from all residents to assist the government.
Agagu, who pointed out that the government was targeting over N1 billion annually, explained that the fund, when realised, would be expended on provisions of facilities for schools and renovation of dilapidated school structures and provisions of bursaries and scholarships, among others.
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Governor Oluwarotimi Akeredolu had relaunched the state education endowment fund on Wednesday, 21st November 2018 to expand the funding base of the existing Ondo State Education Endowment Fund.
But according to Agagu, the purpose and rationale behind the fund was to provide a pool of financial resources independent of normal government subventions, to renovate, rejuvenate, and generally upgrade the education system in Ondo State.
His words: “Accordingly, the fundamental conception is that the fund will have perpetual existence and that all and sundry within Ondo state and beyond will be encouraged and indeed urged to contribute to it according to their abilities and at all times as they feel able to do so.
“Contributions could be once and for all lump sums, or periodic remittances of the standing order type. International and national organizations, as well as individuals within and outside Nigeria are welcome and strongly encouraged to contribute to the fund. Therefore, every taxable adult, person, individual from age 18 and above in the state is mandated to pay a sum of N1,000 on an annual basis (yearly) for education endowment levy,” he said.
While the Board Chairman, Ondo State Education Endowment Fund, Akinsola Akinfenwa, said funding the education sector must be a collective responsibility, the Commissioner for Finance, Wale Akinterinwa, said the fund is meant to support what the government is doing.
Also, Tolu Adegbie, the Chairman, Ondo State Internal Revenue Service (ODIRS), said it was for every taxable adult, adding that about one million people are expected to pay the N1,000.
Adegbie said: “What we are trying to do is to supplement government efforts towards supporting the education sector in Ondo State and we expect everyone to contribute to this fund.”
