The Executive Secretary of the Tertiary Education Trust Fund (TETFund), Sunday Echono has revealed plans to disburse N18 billion to six public universities under its Special High Impact Intervention.
At a press briefing on Thursday, Echono disclosed that N3 billion would be given to six selected varsities, N1bn each to six polytechnics and six colleges of education across the country.
He added that over 95 percent of the N320 billion Intervention Budget for 2023 would go directly to beneficiary tertiary institutions.
Echono said the remaining five per cent of the allocation would be used for staff salaries and allowances, project monitoring, and zonal 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 based on the age of the institution per geopolitical zone and are decided 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 N1 billion each.
“Also, the beneficiary Colleges of Education (CoE) 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 N1 billion 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.
