The Federal Government has given the green light to increase the statutory allocation of Universal Basic Education matching grants, making N3,554,642,584.46 available to state governments for infrastructural projects.Hamid Bobboyi, the Executive Secretary of the Universal Basic Education Commission (UBEC), made this announcement during a five-day financial training session for SUBEB Chairmen and Board Secretaries in Ibadan, Oyo State.
According to David Apeh, UBEC Public Relations Officer, Bobboyi stated that the increased matching grants are sourced from 2% of the consolidated revenue fund allocated to support basic education in Nigeria.
The approval comes on the heels of the passage of the 2024 Appropriation Bill and its subsequent assent into law, Bobboyi explained.
“The 2024 Federal Government Statutory Allocation of the UBE matching grant to each state stands at N3,554,642,584.46,” Bobboyi said.
“This grant complies with Section 11 (2) of the UBEC Act, 2004, with state governments required to provide an equivalent amount of N3,554,642,584.46 as a counterpart fund to execute the 1st to 4th Quarters, 2024 UBE intervention projects.”
Bobboyi noted that states previously received around N1.3 billion per year as matching grants, but this amount has now been increased to N3.3 billion.
He urged state governments yet to access the 2023 matching grant, totaling N1,395,784,959.14 as of July 1, 2024, to do so.
“This is a significant amount, considering the previous allocation. Although inflation has impacted the grants, the available amount is substantial for states. When a state contributes an additional N3.3 billion, it essentially receives about N6.6 billion, which is a reasonable amount if applied effectively,” Bobboyi said.
Bobboyi acknowledged the challenges facing the commission and state SUBEBs, urging collaborative efforts to reduce the number of out-of-school children in each state.
The meeting was attended by SUBEB chairmen, permanent secretaries, and executive secretaries from across the country.
