The Tertiary Education Trust Fund (TETFund) has disbursed N208 billion as a total allocation for the tertiary institution’s Fund of 2019.
Professor Suleiman Bogoro, the Executive Secretary, TETFund, announced this at the annual meeting of the beneficiary institutions of TETFund on Thursday in Abuja, reports NAN.
Bogoro said that the universities obtained N826, 684, 392.00, the polytechnics got the sum of N566, 701, 842. 00 and the Schools of Education received N542, 226, 346.00 each.
He said that 18 institutions drawn from six geopolitical zones in the country would receive particular high-impact interventions.
Bogoro also explained that the 18 institutions that were critically selected according to the guidelines provided received N5 billion for the intervention.
He said that six universities would receive N3 billion each, six polytechnics, N1 billion each and N1 billion each would go to six colleges of education.
The head of TETFund said that the Fund had ensured that the beneficiary institutions, which receive the education tax, use them with judgment.
According to him, the agency is monitoring projects and programs approved for them by the Board of Trustees. “The Fund has undergone internal restructuring and realignment for a better and efficient provision of services,” he said.
Bogoro said that a total of 55 schools of education have benefited from the laboratory of micro-education, construction, and furniture.
The head of TETFund added that the sum of N19, 977, 522, 916.59 had been successfully disbursed between January and June 2019 for physical infrastructure and library interventions.
He pointed out that the question of academics stranded abroad, which caused shame to the nation and the Fund, had been quickly revised.
Bogoro, however, said that the Fund had taken appropriate measures to eliminate the errors that led to the situation.
Meanwhile, Prof. Abubakar Rasheed, Executive Secretary of the National Commission of Universities (NUC) praised TETFund for the role played in ensuring the development of the country, especially about physical infrastructure in tertiary institutions.
Rasheed, however, said the growing number of tertiary institutions was a challenge, reducing interventions to institutions.
He added that in 2019, the country has the most significant number of interventions of the institution since more institutions were created.
According to him, Nigeria needs more universities, polytechnics, and colleges of education, but TETFund also needs protection so that the volume of intervention can be protected.
“The growing number of institutions is a challenge: Nigeria needs more tertiary education institutions to provide more access to quality education.
“However, TETFund is also concerned that with many institutions, the value of their intervention is minimized,” he said.
Therefore, Rasheed asked the administrators of the various institutions to manage the funds efficiently and successfully, while encouraging them to be proactive in processing the Fund.
He also asked the Chief Executives of the institutions to commit other officials in their various institutions to the use of the Fund.
It will be recalled that President Muhammadu Buhari approved N161 billion for university teams, others as the intervention budget of the Tertiary Education Trust Fund 2018 (TETFund) for intervention activities 2019 by the provisions of the TETFund Law 2011.
Each public university in Nigeria obtained an allocation of N785,832,700; The polytechnic obtains N536,703,502, and the Faculty of Education will receive N510,084,900.