COVID-19 Lockdown Fallout: FGN To Release Bailout Fund to Private Schools For Salaries

       

 Muhammadu Buhari:Pdt ,Fed.Republic Of Nigeria

     

Private Schools are among the Micro, Small and Medium Enterprises to benefit from the new Nigeria Economic Sustainability Plan, (NESP) which was developed by the Economic Sustainability Committee (ESC).

This is contained in the recent press release of June 25, 2020 by the Special Adviser to the President on Media and Publicity, Femi Adesina

The NESP, approved by the Federal Executive Council (FEC) on June 24, 2020, was established by President Muhammadu Buhari on March 30, 2020.

The ESC is chaired by the Vice President, Yemi Osinbajo and also include s several Cabinet Ministers as well as the Group Managing Director of the NNPC and the Governor of the Central Bank of Nigeria (CBN).

               

Prof.Yemi Osinbajo: VP Fed. Republic Of Nigeria

We can recall that private schools operators and Staff have made their cases known to the Government through their umbrella body, the National Association of Proprietors of Private Schools (NAPPS), about the crippling effect of lockdown  on their means of livelihood since March when the Covid-19 Lockdown and closure of schools were first announced by the President.

          

Yomi Otubela: NAPPS' President

NAPPS, through its national president, Yomi Otubela, solicited for sector-oriented palliatives from the government to include moratorium on current loans, financial grants, support for workers' wages and provision of Covid-19 preventive materials in schools amongst others. This, he said is to gradually allow cushion the economic effect of the lockdown on private schools abruptly closed through the Covid-19 directives.

The new NESP provides some answers to some of the requests of the private school operator and teachers through the 'Business Support for MSMEs' plan as expressed in the press statement released by Femi Adesina.

"This will take the form of payroll support to designated sectors so that they can maintain their employees and help keep jobs; and also loan restructuring and moratorium for existing debt. Also, low-interest loans to boost local manufacturing and production across critical sectors, including but not limited to the pharmaceutical, aviation, hotels and the hospitality industry, private schools, road transportation, technology companies, and the creative industry, amongst others. A Guaranteed Offtake Scheme for MSMEs will function by making government an important purchaser of specific priority products made by MSMEs, like PPE, face masks, face-shields, processed food, pharmaceuticals, etc," Adesina said

As schools plan on following the guidelines laid out for Post-COVID-19 reopening, parents whose children attend private schools should be hopeful that the Federal Government will keep their words in support of the teachers and schools operators to cope through the pandemic and move towards the gradual reopening of schools as planned.