Lagos State Government, through the Teachers Loan Board, has approved the applications of 265 beneficiaries for car refurbishment and housing loans as part of efforts to improve the welfare of teaching and non-teaching staff.
The approval was given today during the bi-annual Teachers Loan Board meeting held at the Teaching Service Commission headquarters in Ikeja and presided over by the Permanent Secretary, Teaching Service Commission, Mrs. Bopo Oyekan-Ismaila.
Speaking at the meeting, Mrs. Oyekan-Ismaila emphasized the state government’s dedication to the welfare of teachers and other education workers. She explained that the approvals are necessary to retain talented educators and ensure their commitment to the important role they play in society.
According to her, “with the upward review of car refurbishment loan from N100,000.00 (One Hundred Thousand Naira) to N500,000.00 (Five Hundred Thousand Naira) for the senior level management officers and N30,000 to N100,000 for Junior level Officers by the Governor, greater percentage of staff can now benefit from the scheme.”
She further disclosed that the consideration for the upward review of housing loans, as recommended by the Joint Negotiating Council, is ongoing and already receiving attention from the state government. Mrs. Oyekan-Ismaila urged beneficiaries to use the loans wisely and positively impact the overall performance of students across Lagos State.
Also speaking at the meeting, the Director of Teachers Welfare Department, Teaching Service Commission, Mr. Akinwande Festus, noted that welfare packages remain crucial to the satisfaction and motivation of teachers. He said, “adequate welfare packages enhance teachers’ contentment with their jobs, leading to higher motivation and morale.”
He stressed that the loans help both teaching and non-teaching staff to improve their standards of living, while also serving as an encouragement to talented and experienced personnel, thereby preventing the loss of skilled educators to other opportunities.
The Teachers Loan Board is charged with considering applications for housing and car refurbishment loans from teaching and non-teaching staff across all Education Districts, LASTVEB, and TESCOM. Once applications are approved, funds are disbursed by the State Treasury Office, Alausa, to eligible beneficiaries.