Oyo govt approves car loan for teachers as palliative against fuel subsidy removal

The Oyo State Government has approved the immediate release of car loans for primary school teachers, across all zones in the state.

This was made known on Friday in Ibadan by the coordinating Director, Oyo State Universal Basic Education Board, Mr. Jacob Dairo, who stated that the loan was a palliative to teachers in the state.

He said the loan which is to be distributed in many tranches is to cushion the effect of the removal of fuel subsidy, on Oyo State primary school teachers.

READ ALSO:Fuel subsidy: Nigerian govt to monitor distribution of palliatives in states

According to him, the scheme was approved by the Oyo State governor, Seyi Makinde, who had instructed that the loan be provided to all teachers, without any favoritism.

The coordinating Director therefore, advised the beneficiaries to use the support judiciously for the intended purpose.

The facility which is to be granted by financial institutions, is to be redeemed within 40 months.

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