Firm launches educational loan scheme in Edo, as 66 schools benefit

From Elvis Omoregie Benin

The Executive Director Standard Life Organization (SLO), a micro finance institution, Mr. Osazee Oyegue, on Monday called on government to collaborate with private Institutions to take children off the streets.

He made the call during the launching of its organisation products tagged "Educational Loan" at the head office in Benin City the Edo State capital.

Oyegue, who was represented by the Head of Audit, Mrs. Elizabeth Osariemen, said the loan scheme would enable parent afford school fees while school owners can also benefit from it to better their schools and enable then acquire much facilities and equipment to aid effective learning.

He said, "I will use this opportunity to call on the government to collaborate with private Institutions to take children off the streets.

"The educational loan product Initiative is designed for parents to send their children back to school and training institutions to be able to meet their financial needs.

"We are not only looking at taking back children to school but also to help improve the schools for conducive learning.

He said the loan products is divided into the School Fees Loan which caters for parents, while the School Improvement Loan is meant to satisfy private school owners and other players in the education value chain.

He said over 66 schools have benefited from the scheme in Edo and Delta states during the pilot stage that lasted for six months.

He added, "we are making it wide open for every private school in Edo state and many other states in Nigeria to benefit from it. I will like to use this opportunity to call on private school owners, parents, and guidance to take advantage of this opportunity".

Speaking, the state coordinator, National Productivity Centre, Benin, Banje Suru, who was also the chairman of the occasion, said it was not the first time they were collaborating with Standard Life as they are always giving out the best incentives to help Nigerians.

He said the organization has a lot of role to play in managing education in the country and urged management and staff of Standard Life to keep the flag flying.

Also speaking, the president, National Association of Proprietors of Private Schools (NAPPS), represented by Kelvin Eboigbe, chairman, Oredo chapter of NAPPS, express joy for the opportunity given to school owners and parents to benefit from the programme.