Fred Ezeh, Abuja
Universal Basic Education Commission (UBEC), has commenced the disbursement of the 2017 matching grant to the 36 states of the federation and the Federal Capital Territory (FCT).
Matching grant is 50 percent of the gross revenue realised by UBEC in a preceding year. The balance of 50 percent is also disbursed to states in accordance with sharing formula approved by the Federal Executive Council (FEC), mainly for teachers’ development and other peculiar needs.
A document exclusively obtained from UBEC by Daily Sun, indicated that N47,594,697,791.35, was disbursed to states as 2017 matching grant, as against N70,995,000,000.12, disbursed in 2016, for same purpose. Breakdown of the figure shows that each state of the federation and FCT is entitled to access N1,286,343,183.55, as 2017 matching grant, as against N1, 918,783,783.78, accessed in 2016.
Accessing the fund, UBEC said, is subject to meeting requirements as highlighted by terms and conditions, including the payment of counterpart funds.