The Nigerian government has announced an upward review of the statutory allocation of Universal Basic Education (UBEC) matching grants, increasing the amount accessible by state governments for infrastructural projects to N3,554,642,584.46. billion
This announcement was made by Dr. Hamid Bobboyi, Executive Secretary of the Universal Basic Education Commission (UBEC), during a five-day financial training session for State Universal Basic Education Board (SUBEB) Chairmen and Board Secretaries in Ibadan on Thursday.
According to Dr. Bobboyi, the increased matching grants are sourced from 2% of the Consolidated Revenue Fund, designated to support basic education in Nigeria. The approval for the increase followed the passage of the 2024 Appropriation Bill and its subsequent assent into law.
“The 2024 Federal Government Statutory Allocation for the UBE Matching Grant to each state is N3,554,642,584.46 (Three Billion Five Hundred and Fifty-Four Million Six Hundred and Forty-Two Thousand Five Hundred and Eighty-Four Naira Forty-Six Kobo Only),” Bobboyi stated.
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He explained that this grant is in compliance with Section 11 (2) of the UBE Act, 2004, and requires state governments to provide an equivalent amount as counterpart funding to execute the 1st to 4th Quarters, 2024 UBEC intervention projects.
Previously, states received approximately N1.3 billion per year as matching grants, but this amount has now been increased to N3.3 billion. Dr. Bobboyi emphasized the importance of this increase, acknowledging that while inflation has affected the value of the grants, the new amount is still substantial and beneficial for states. “When a state contributes another N3.3 billion, it effectively has about N6.6 billion to work with,” he noted, stressing the significance of proper application of these funds.
Dr. Bobboyi also urged state governments that have not yet accessed the 2023 Matching Grant, amounting to N1,395,784,959.14 as of July 1, 2024, to do so promptly.
He highlighted that approximately 46 million children are currently enrolled in schools across the country, and according to the Sustainable Development Goals (SDGs), basic education extends up to the secondary school level. Despite the progress, he acknowledged the significant challenges faced by the commission and state SUBEBs in reducing the number of out-of-school children.
The Executive Secretary also emphasized the importance of quarterly meetings between SUBEB Chairmen and Secretaries, which provide a platform to address challenges and propose solutions within the basic education sub-sector.
