Educational Loan Scheme Launches In Benin By Standard Life Organization

…calls on government to support private initiative’s efforts to take children off the streets.

By Simeon OSAJIE

The Executive Director Standard Life Organization (SLO), a micro finance institution Mr. Osazee Oyegue, has called on government to support private initiative’s efforts to take children off the streets.

Mr. Oyegue made the call during the launching of its organization product tagged “Educational Loan Product Initiative” at the corporate head office in Benin City, the Edo State capital.

The Executive Director who was represented by the Head of Audit, Mrs. Elizabeth Osariemen, said government should provide support for private schools to thrive, especially those involved in giving mandatory primary education, should not be a subject of debate.

He noted that with collaboration of opportunities of international rebrand focusing on funding the schools, parents and other players in the education value chain to help reduce, or eradicated, the outrageous numbers of out-of-school children in Nigeria.

Speaking on the essence of the loan scheme, Mr. Oyegue said the purpose is to get children off the streets into classrooms for learning adding that, getting children off the streets involves assisting the parents to live up to their financial commitments to schools, assist the schools to aquire the much needed facilities and equipment to aid effective learning.

He said the Educational Loan Product Initiative is designed for parents to send their children back to school and other training institutions to be able to meet their financial needs.

He said that they are not only looking at taking back children to school but also to help improve the schools for conducive learning.

He said the educational loan product is divided into two segments, the (SFL) and (SIL).

He said the SFL loan is to cater for parents, school improvement in different categories for both private and public schools respectively while the SIL loan is meant to satisfy private school owners and other players in the education value chain.

According to him, being the first organization to bring an international opportunity to Edo state, over 66 schools have benefited from the scheme in Edo and Delta states during the pilot stage that lasted for six months.

He maintained that the aim is to ensure all out-of-school children in Nigeria return to the classroom and make the schools conducive for learning.

The Executive Director, SLO. said by launching the product today, “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, Mr. Banje Suru, who was also the chairman of the occasion said it was not the first time they are collaborating with Standard Life as they are always given out the best in all areas of endeavour their ways is Standard Life.

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 Mr. Kelvin Eboigbe, chairman, Oredo chapter of NAPPS, express joy for the opportunity given to school owners and parents to benefit from the programme.

Some proprietors and proprietress at the occasion give testimonies and sing praises about the loan so far prayed God to continue to bless and protect all members of the company.