The Oyo State Government has granted immediate authorization for a car loan program aimed at primary school educators throughout all zones within the state.

This decision was communicated through an official statement provided to the press on Friday in Ibadan by Mr. Jacob Dairo, the Coordinating Director of the Oyo State Universal Basic Education Board.

The car loan initiative is designed as a palliative measure to alleviate the challenges posed by the prevailing economic crisis on teachers.

The loan is set to be distributed in installments, serving to mitigate the impact of the national economic downturn on educators.

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Governor Seyi Makinde has endorsed the loan program, emphasizing the need for impartiality in its administration.

Mr. Dairo, the Coordinating Director, urged beneficiaries to employ the funds for their intended purposes.

This loan facility, facilitated by financial institutions, must be repaid within a span of 40 months.

Prof. Salihu Abdulwaheed, the State Commissioner for Education, Science, and Technology, affirmed the government’s dedication to collaborating with education sector stakeholders.

During a recent visit to the Directorate of the Oyo State Universal Basic Education Board, Abdulwaheed assured that the government would embark on teacher recruitment and comprehensive staff training to ensure overall success in the sector.