As part of its special high impact intervention in the education sectot, the Tertiary Education Trust Fund in the education sectot (TETFund) is set to disburse N40 billion to 18 higher institutions of learning in the country, TownCriernews.ng.com, gathered.
The intervention is part of the recently approved 2023 budget by President Muhammadu Buhari.
The Executive Secretary of TETFund, Sonny Echono, noted that six selected universities will receive N3 billion each, while six polytechnics and six colleges of education will each receive N1 billion
Announcing this on Thursday, April 13, 2023, during a media briefing in Abuja, Echono said the “Fund is poised to disburse N18 billion to six public universities, and N12 billion to six polytechnics and six colleges of education with each receiving N1billion.
He emphasized that over 95% of the total disbursement for 2023, amounting to N320 billion, will directly benefit tertiary institutions.
The Executive Secretary further explained that the remaining 5% of the allocation will be utilized for staff salaries and allowances, project monitoring, and zonal capital projects.
He noted that 62% of the total disbursement, equivalent to N198 billion, will constitute the institutions’ annual direct disbursement, while 20% of the disbursement, amounting to N64.2 billion, will be used for special interventions.
The Board of Trustees will have discretion in determining the allocations for special interventions, which are zonal-based and distributed equitably in accordance with the enabling Act.
The Special High Impact Intervention, as highlighted by Echono, aims to inject substantial funds into selected tertiary institutions to achieve a significant transformation through Programme Upgrade and Improvement in the teaching and learning environment.
The beneficiaries are chosen based on various criteria, including the age of the institution and their geographic location within Nigeria.
Universities to benefit are Ibrahim Babangida University, Lapai;
Federal University Wukari, Taraba State;
Federal University Birnin Kebbi, Kebbi State; Imo State University of Agriculture and Environmental Sciences; Edo University, Uzairue; and Federal University of Technology Akure, Ondo State.
The Polytechnics to benefit are,
Federal Polytechnics Offa, Federal Polytechnic Gombe, Federal Polytechnic Kabo in Kano State, Anambra State Polytechnic, Federal Polytechnic of Oil and Gas, Bonny, Rivers State, and Oyo State College of Agriculture and Technology, Igboora.
The benefiting Colleges of Education are:
Plateau State College of Education,
Federal College of Education Yola,
Federal College of Education Zaria,
Enugu State College of Education,
Delta State College of Education, and
Taiye Solarin College of Education.
Echono also mentioned that N500 million has been allocated to selected Colleges of Education from the six geopolitical zones for micro-teaching laboratories as part of other intervention lines.