THE NIGERIA STATE EDUCATION PROGRAM INVESTMENT PROJECT [ SEPIP] The Nigeria - State Education Program Investment Project (SEPIP) is a World Bank-backed initiative designed to improve the quality, management, and efficiency of education in participating states across Nigeria. OBJECTIVE OF THIS KEY EDUCATION INTERVENTIONS FUNDS The key goal of this interventions program was to support federal and state efforts to enhance basic education delivery, student learning outcomes, and institutional accountability. STATES THAT PARTICIPATED Originally implemented in Anambra, Bauchi, and Ekiti, with additional financing later extending support to other regions, including North East states affected by security challenges (such as Borno and Taraba). FINANCING REQUEST The financing request for the State Education Program Investment Project (SEPIP) was officially initiated and submitted to the World Bank by the Federal Government of Nigeria (FGN). The Funds were allocated and on-Lent to the participating state governments (such as Anambra, Bauchi, and Ekiti), which act as the sub-national implementing agencies alongside the Universal Basic Education Commission (UBEC). Total Projects Credit: USD250million [ Anambra got $48m] Interest Rate: ZERO % (Principal is interest-free). Service Charge: Approximately 0.75% per annum on the disbursed credit balance Commitment Fee: A maximum of 0.5% per annum on any undisbursed loan balance (often waived or reduced by the World Bank board annually). Tenor : 40 years. Moratorium: 10 years (no principal repayments required during the first decade of the project). FUNDS DISBURSMENTS This $48m was disbursed in 4 successive implementation years.. 2013, 2014, 2015 and 2016... 1. In November 5, 2013 , Anambra state received the initial allocation of US$4.5 million/N697.5m...At the launch of this program, the Anambra state government under Peter Obi injected an additional ₦1.5 billion into state school funds to act as concurrent counterpart momentum alongside the World Bank’s baseline release. This initial allcation was utilised for official launch of SEPIP in Anambra State. This initial advance payments were released to establish the State Project Implementation Unit (SPIU) and kick off the framework 2. The second disbursement of USD$5.5m was made on June 18, 2014, more than 3 months after Peter Obi left Government house Awka as Governor of Anambra state Out of the total disbursement of USD$48m made under this key special education interventions scheme , only $4.5m/N697m was made under Peter Obi as Governor of Anambra state ... Anambra state under the leadership of Akpokuo Aguleri, Willie Obiano, who single handedly made the OJIONU, Governor of Anambra state, received ISD$43.5m out the total allocation of USD48m ....in 2014, 2015 and 2016 THE OJIONU HAS KNOWLEDGE OF ALL THESE FACTS, but chose to engage in hatchet political jobs grounded in misinformation. DR NGOZI OKONJO IWEALA AGAIN IS VINDICATED.... "There is definitely an issue of character with Prof. Soludo and his desperate search for power and relevance in Nigeria. Nigerians should, therefore, beware of so-called intellectuals without character and wisdom because this combination is fatal."..Dr Ngozi Okonjo Iweala OBIARAERI, Nnaemeka Onyeka @ruffydfire @seyimakinde @OjyOkpe @FinPlanKaluAja1 @firstladyship @TheSerahIbrahim @UchePOkoye @SamAmadi @AtedoPeterside @charlesaniagolu @alexottiofr @DeleFarotimi