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NDIC commits N464m to education assisted projects

By Babajide Komolafe
The Nigeria Deposit Insurance Corpo ration (NDIC) has committed N464m for education project funding scheme in Nigeria’s institutions of higher learning as part of the Corporation’s contribution to education.

A statement from the Corporation said “Considering Nigeria’s falling standard of education, NDIC had, between 2003 and 2009, selected 25 federal universities and other higher institutions for which it committed N264m in the 1st and 2nd phases of the education assisted projects out of which 21 had been completed and commissioned.

Under the 1st and 2nd phases of the scheme, the Corporation, in addition to the effective discharge of its mandate of depositor protection, embarked on the construction of facilities, such as students’ hostels, lecture halls, classrooms, laboratories, academic offices, water and information technology (IT) facilities.

The beneficiary institutions were selected from the 6 geo-political zones of the country and the Federal Capital Territory, to ensure wider and equitable coverage.

The projects were selected by the individual institution in consultation with NDIC, which also has an effective project monitoring and evaluation system to ensure judicious utilization of the funds.

Among the institutions that benefited from the first phase of the scheme include: University of Maiduguri, University of Benin, Federal University of Agriculture, Makurdi, Usman Dan Fodio University, Sokoto, Abubakar Tafawa Balewa University, Bauchi, Bayero University, Kano, Federal University, Uyo.

Others are Federal University of Technology, Owerri, Nnamdi Azikiwe University, Awka, University of Ilorin, University of Abuja, Obafemi Awolowo University, Ile-Ife and University of Ibadan.

Under the 2nd phase, the institutions that benefitted are: Gombe State University, Gombe, Adamawa State University, Mubi, IBB University, Lapai, Niger State, University of Jos, Jos, Admadu Bello University, Zaria, Kebbi State Polytechnic, Birni-Kebbi, Adekunle Ajasin University, Akungba, University of Nigeria, Nsukka, Ebonyi State University, Rivers State University of Science & Technology, National Mathematical Centre, Abuja and Africa Institute of Science & Technology, Abuja.

The Corporation is extending the gesture to privately owned institutions in the country under the 3rd phase of the scheme using 80 and 20 per cent sharing formula for the N200m set aside for government and privately owned institutions respectively.

Ten institutions were selected and they are to receive N20m each. They are: Katsina State University, Katsina, Kaduna State Polytechnic, Zaria, Wukari Jubilee University, Bukar Abba Ibrahim University, Damaturu, Federal Polytechnic, Offa.

Others are The Ibadan Polytechnic, Ajayi Crowther University, Oyo, Anambra State University of Science & Technology, Uli, Delta State University, Otefe, and Akwa Ibom State University of Technology, Uyo

The NDIC education project funding scheme, which was approved by the Board, is aimed at assisting higher institutions through financing various development projects following the growing concern over the inadequacy and decay of basic infrastructural facilities in the higher institutions.”


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