President Bola Tinubu has authorized the renewal of the Group Life Assurance for federal government workers, as announced by the Minister of Information and National Orientation, Alhaji Mohammed Idris, at the conclusion of the first 2024 meeting of the Federal Executive Council (FEC) in Abuja on Wednesday.
Alhaji Idris revealed that the approval, which amounted to approximately N9.6 billion, was granted following a memorandum presented by the Head of the Civil Service of the Federation, Dr. Folasade Yemi-Esan, to the council.
The funds will be allocated to 12 local insurance firms to provide coverage for federal workers in the event of unforeseen eventualities during the discharge of their duties.
Highlighting the significance of the initiative, Idris emphasized that it reflects the government’s commitment to ensuring the welfare of its employees.
He stated, “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.”
The Minister of State for Education, Yusuf Sununu, also affirmed that the commencement of the student loan in January remains unchanged, with a dedicated website already operational for interested students meeting the specified criteria.
He further noted that the necessary funding has been allocated in the 2024 budget.
Additionally, the council approved the establishment of foreign institution campuses in Nigeria to enhance the enrollment of Nigerian students and promote research collaboration between local and international higher education institutions.
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