Coverpage Partnership Solutions Ltd. on Wednesday unveiled an Education Savings and Loans Scheme, PressPayNg, for tertiary school students in Nigeria.
The News Agency of Nigeria (NAN) reports that through the PressPayNg app, any Nigerian student can be financially empowered to commence and complete tertiary education without having to drop out or defer admission.
Speaking at the unveiling ceremony in Lagos, Mr Abiola Metilelu, CEO, Coverpage Solutions, said that human capital development remained a critical component to unlock the full potential of the Nigerian economy because knowledge has become the main stay of most developed economies.
Metilelu decried the low share allocated to education in the 2021 budget.
” But the sad reality of today is that students in tertiary institution in Nigeria are dropping out of school in their numbers. Largely for financial reasons and inability to pay tuition.”
According to him, PressPayNg has been positioned to champion technological convergence in the education sector, particularly at the tertiary level.
At the occasion, the Vice Chancellor, University of Lagos Prof. Oluwatoyin Ogundipe, who was represented by the Deputy Vice Chancellor. Management Services, Prof. Lucian Chukwuma , said that the idea of alternative funding for tertiary education was timely.
Ogundipe said that the university has been supportive of students in various needs. According to him, the university has funds for the support of indigent students.
” We also offer scholarship for undergraduate students,” Ogundipe said.
Also speaking, Dr Benjamin Olowojebutu, President, UNILAG Alumni, said that one of the focal points of the Alumni association was to build legacies that would outlive them
Olowojebutu said that the app was a unique, laudable and credible one.
Also, The Ooni of Ife, Enitan Adeyeye, pledged his support to the project.
Represented by Dr Kemade Elugbaju, the Sooko Omoniyi of Ife Kingdom, Ooni said he was happy to witness the unveiling of the project in Lagos and asked that similar unveiling be done in Ife.
NAN reports that partners at the project included FCMB, Mutual insurance, Metro Health, Cornerstone insurance and SUNU Health.