ASUU, Academic Staff Union of Universities has sounded alarmed over TETFund’s outstanding N132 billion. This amount is roughly 41% of the N320 billion funding the government approved to revitalize higher education institutions. ASUU revealed that only 58% of its approved funding actually went to public universities in the country.
Tertiary Education Trust Fund (TEETFund) Executive Director Sonny Echono announced Wednesday that President Muhammadu Buhari agreed to pay N320 billion to Nigeria’s public higher education institutions. As part of the main request and renegotiation of the 2009 agreement between the government and the ASUU, it was assigned to revitalize Nigeria’s public universities.
However, ASUU National President Emmanuel Osodeke said that when TETFund’s distribution ratio for each public tertiary body is calculated, the TETFund’s distribution ratio reached N186 billion, making only 58% of the total approved by the President.
The university don made this known during a Channels Television interview on Thursday, saying TETFund must account for the undistributed funds.
“What are we using that N132 billion [for], which is 41% of the total money? Is it for bureaucracy or what?
“We need a redistribution of this fund to ensure that it accounts for 90% of what has been approved to go to universities, polytechnic and not kept as bureaucracy or whatever,” he added.
cc: Daily Post Ng
