FG Approves N400 Million Bailout For Nigerian Students Abroad

The Federal Government has endorsed N400 million for the installment of upkeep stipends of Nigerian students on foreign scholarships.


The Acting Permanent Secretary, Federal Ministry of Education, Hajia HIndatu Abdullahi, made the exposure in a meeting with the News Agency of Nigeria (NAN) in Abuja on Wednesday.

Abdullahi credited the postponement to non-arrival of capital stipend and the adjustment in government which deferred the arrival of capital allotment for 2015.

She clarified that the upkeep recompense of the researchers did not come as over head allotment but rather capital designation.

As indicated by her, the remittance payable to the researchers outside the nation is from January to December and it is computed and caught in the monetary allowance consistently.

She said that the predicament of the students was being considered important, including that "we simply have an approbation of about N400 million, we are presently meeting expectations with the Federal Ministry of Finance to acquire it.

"After that, we will go to the Budget Office and the Central Bank of Nigeria to guarantee that the cash is transmitted as quickly as time permits to the missions.

"As far as the paper work, we have closed; we need to pay something so that their hardship will be minimized.

Abdullahi said the privileges were being worked out from January to December, including that in 2014, the students got all stipends for the year in the middle of July and August.

"At whatever point we get capital assignment in the service, we work out the grant cash and pay into CBN.

"CBN will now transmit same in accordance with the data we have given them; it will dispatch to international safe havens which will dispatch to the researchers.

The acting lasting secretary said that if there was any postponement in the arrival of capital portion, it would influence researchers' upkeep recompenses.

Posted by Donatus Joshua at 20:52