TETFund has revealed plans to spend N18 billion on six public universities as part of a high-impact intervention. Sunday Echono, the Executive Secretary of the Tertiary Education Trust Fund made this known at a press conference on Thursday, Echono announced that TETFund would give N3 billion to six universities across the country, respectively N1 billion each to six universities and six colleges of education.
He added that more than 95% of the N320 billion intervention budget will go directly to beneficiary tertiary institutions. The remaining 5% of the quota will be used for staff salaries and benefits. It will also cover project oversight and the zone’s capital projects.
The Special Intervention funds are to directly fund selected tertiary institutions to upgrade their programmes and improve their teaching and learning environments.
As stipulated by the enabling Act, allocations are generally made equitably. It is usually based on the age of the institution per geopolitical zone. They are also decided upon by the board of trustees at its discretion.
Echono said-
“For this year, the special impact will be given to six universities which include; Ibrahim Babangida University, Lapai from the North Central zone; Federal University Wukali in Taraba State from the North-East zone; Federal University Birnin Kebbi from the North-West. In the South-East, Imo State University of Agriculture and Environmental Sciences will receive funding while in the South-South we have Edo State University; and in the South-West, we have the Federal University of Technology Akure, Ondo State.
“The beneficiary polytechnics are the Federal Polytechnics Offa; Federal Polytechnic Gombe; Federal Polytechnic Kabo, Kano State; Anambra State Polytechnic; Federal Polytechnic of Oil and Gas, Bonny; and Oyo State College of Agriculture and Technology, Igboora are to get N1bn each.
“Also, the beneficiary colleges of education are the Plateau State CoE; the Federal CoE, Yola; Federal CoE, Zaria; Enugu State CoE; Delta State CoE; and Tai Solarin CoE, are to get N1bn each.”
Echono added that TETFund plans to intervene to address the dilapidated state of some institutions’ hostels.
“Many of you have seen the deplorable accommodation our students live in. For some years now we have commenced these interventions and we will encourage schools because we believe the hostels are one of the areas where private sector funding can be attracted,” he stated.
cc: Punch Ng
