Lagos state government give out loan to education sector
The Lagos state government in partnership with first bank of Nigeria has lunched the sum of N5bn post -corona virus recovery support capital for the educational sector to support low- cost private schools across the state in mitigating the negative impact of the global pandemic .
The loan scheme would be provided to two categories of applicant ,the micro enterprise with small and medium enterprise , adding that those in the ME category would receive a sum of N500,000 while those in SME would get N5m
The Lagos state employment trust fund collaborated with first bank to facilitate the matching funds which will be given as loan to schools and vocational education center's across the state
The Lagos state governor sanwo olu stated that the loan was part of the state government sustainable solutions to reduce the socio-economic on both residence and business
He further say education is one of the sector that are severely impacted by the covid-19 pandemic as schools and vocational center's have shut since March in other to stop the spread of Corona virus .
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