Oyo State government has approved immediate release of a car loan for primary school teachers across all zones in the state.
This is contained in a statement made available to newsmen on Friday in Ibadan by the Coordinating Director, Oyo State Universal Basic Education Board, Mr Jacob Dairo.
According to him, the loan is coming as a palliative to the teachers.
He said that the loan, which was to be disbursed in tranches, is to cushion the effects of the economic crisis in the nation on the teachers.
According to him, the loan scheme was approved by the state Gov. Seyi Makinde, who has instructed that there should be no favouritism.
The coordinating director advised the beneficiaries to use the loan for the intended purpose.
The facility which is to be granted by financial institutions is to be redeemed within 40 months.
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