FG Approves N9bn Life Assurance For Workers, Foreign Institutions’ Campuses

The Federal Executive Council (FEC) Wednesday approved the payment of N9.6 billion to 12 companies as life assurance for its workers across the country.

Minister of Information and National Orientation Mr Mohammed Idris said this while briefing State House correspondents at the end of the weekly FEC meeting chaired by President Ahmed Tinubu.

Idris said the council approved the payment following a presentation by the Head of Civil Service of the Federation Dr Folasade Yemi-Esan.

“There are about 12 insurance companies involved. It is a normal annual cover that insurance companies give workers. So, in the event of death or severe injury, they can resort to and so that their families would not have to suffer,’’ he said.

Minister of Information and National Orientation said the life insurance was approved for the for workers as part of the determination of the Tinubu administration to accord all its workers the needed reward that would improve efficiency, productivity and service delivery to Nigerians.

Also speaking, the Minister of State for Education Mr Yusuf Sununu said the Federal Executive Council approved the establishment of foreign institutions’ campuses in the country to increase enrollment of Nigerians and encourage research among higher institutions worldwide.

Sununu said a guideline has been provided to ensure that training on campuses is standardised with the parent institution abroad.

According to him, the policy would save the nation from scarce foreign exchange taken abroad instead of being used for national development.

The Minister of State for Education said the January 2024 date for the take-off of the student loan was still feasible.

He revealed that a website for the loan programme had already been established for interested students with requisite criteria.

He added that the federal government had made funding provision for the loan programme in the 2024 budget.