This news was culled from Tribune Online.

June 22, 2023

From left, Head, Public Relations, Sterling Bank Plc, Ademola Adesina; Divisional Head, Business Growth, Obinna Ukachukwu and Head, Retail and Consumer, Abena Annan at the bank’s education news conference in Lagos.

AS part of its contributions to produce fit-for-purpose graduates in the country, Sterling Bank Plc has given out over N15 billion as loans to students and school owners across the country in the last five years.

The bank also trained up to 600 software engineers in the last 18 months.

The divisional head for the growth of the bank, Obinna Ukachukwu, gave these revelations at a news conference in Lagos.

According to him, Sterling Bank Plc believes that to grow and develop the country’s economy in an appreciable manner, required the production of highly skilled manpower, hence the need to invest sufficiently in the education sector.

He said that one thing that is important in this regard is to invest in relevant education programmes that can produce a cost-effective and globally competitive manpower.

He said: “Once a country begins to underfund its education sector that is supposed to drive knowledge and skill acquisition and also impact economic productivity and development, there will be a problem that will have ripple effects across sectors of the economy.”

Ukachukwu explained that a community or a country that would guarantee great a future for its citizens should train the people in programmes and courses that are relevant and can solve societal problems rather than mere certificates acquisition as is the case in Nigeria..

He said it is on this narrative that tertiary institutions in the developed economies operate producing graduates who will create value that, are far greater than the cost of producing them.

“And that is why our bank’s module is also tailored towards innovations, partnerships and investments in projects that generate sustainable value for the educated individuals, the community and the nation,” he stressed.

Ukachukwu, however, declared that Sterling Bank education loans attract both low and zero-interest rate depending on the category of students and schools. It is also designed in such a manner that borrowers repay their loans with ease.

He said that the bank has some working students who pay their tuitions from work allowances they receive, urging students and school owners to approach any of the bank branches nationwide to ask for loans for the purpose of their education.