FEC approves workers Life Assurance, says students loan for January

President Bola Tinubu has approved the payment of renewal fees for the Group Life Assurance for federal government workers.

Minister of Information and National Orientation, Alhaji Mohammed Idris, disclosed this on Wednesday at the end of the first 2024 meeting of the Federal Executive Council (FEC) held in Abuja.

He said that this was sequel to a memo brought by the Head of the Civil Service of the Federation, Dr Folasade Yemi-Esan to the council.

He said the President approved about N9.6billion for 12 local insurance firms to cover the Federal workers in case of unforeseen eventualities in the course of their duties.

“There are about12 insurance companies involved. It’s 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.

Idris said that the approval was part of the administration’s determination to accord all its workers the needed reward that would improve efficiency, productivity and service delivery to Nigerians.

Minister of State for Education, Dr Yusuf Sununu said that the January date for the take-off of the students loan was still in place, adding that a website had already been working for interested student with requisite criteria.
He pointed out that government had made funding provision for it in the 2024 budget.

Sununu also disclosed that the council approved the setting up of foreign institution campuses in the country to increase enrollment of Nigerians and encourage research among higher institutes worldwide.

He said that a guideline has been provided to ensure quality of training of the local campuses are standardised with the parent institution abroad.

He added that the policy would also save the nation of scarce foreign exchange taken abroad instead of being used for national development.