- CBN Committed to Financing Education
The Deputy Governor of the Central Bank of Nigeria, Mr. Bayo Adelabu, says financing some key projects in the newly established Technical University by the Oyo State Government is part of the apex bank’s intervention programmes aimed at enhancing capacity development in tertiary institutions across the country.
Adelabu said one of the aims of the CBN was to bring about the desired change in the socio-economic fabric of the country through regular intervention in critical sectors of the economy.
He spoke while delivering a keynote address at the opening and hand-over of the projects to the university at its permanent site on the Lagos-Ibadan Expressway.
Adelabu, who handed over the projects on behalf of the CBN Governor, Mr. Godwin Emefiele, said, “Having recognised Ibadan and Oyo State in general as a socio-political and educational headquarters of the South-Western region, the state has in the past three years benefited from various intervention projects of the CBN.
“The CBN is also proposing developing lecture rooms and hostel facilities for The Polytechnic Ibadan which will cost about N5bn; total renovation and building of new classrooms, library and technical and science laboratories for Lagelu Grammar School, Oyo, estimated at N500m, and building of a cancer centre or modern diagnostic centre for the University College Hospital, Ibadan.”
The Technical University is billed to take off in September.
Governor Abiola Ajimobi of Oyo State expressed the state’s appreciation to the board and management of the apex bank for the donations and for being a partner in progress, while promising that the facilities would be put into good use.