FG approves N320.3bn intervention fund to tertiary institutions

President Muhammadu Buhari has approved the disbursement of N320.3 billion as intervention funds for public tertiary institutions in the country for the year 2023. 

This was disclosed by the Executive Secretary of Tertiary Education Trust Fund, Sonny Echono, in Abuja on Wednesday, April 5, during the Fund’s annual strategic planning workshop.

According to Echono, each university will receive the sum of N1,154,732,133.00 out of which N954,732,123.00 is for annual direct disbursement and N200 million as zonal intervention. Each polytechnic will get N699,344,867.00 of which N569,344,807.00 is for annual direct disbursement and N130 Million as zonal intervention, while each College of education will receive N800,862,602 comprising N670,862,602.00 as annual direct disbursement and N130 Million as zonal intervention.

He noted that the 2023 fund was the highest disbursement each beneficiary institution has ever received since the inception of the Fund about 30 years ago.

Also speaking, the Permanent Secretary of the Federal Ministry of Education, David Adejo, urged the beneficiary institutions to use the intervention judiciously, saying that the country is no longer looking for paper presentations but what one can do with his brain and hands.

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