See Full List of 17 Nigerian Schools to Share 18 Billion Naira TETFund Money

Cursory: As part of its Special High Impact Intervention, Nigeria’s Tertiary Education Trust Fund (TETFund) will give N18 billion to six public universities.

As part of its Special High Impact Intervention, the Tertiary Education Trust Fund (TETFund), headed by Arc. Sonny Echono, is prepared to distribute N18 billion to six public universities. During a meeting in Abuja on Thursday, April 13, Echono gave a breakdown of the recently authorized N320 billion 2023 Intervention Budget by President Muhammadu Buhari, according to Daily Trust.

According to Echono, each of the six chosen universities would receive N3 billion, while the country’s six polytechnics and six colleges of education will receive N1 billion apiece. He stressed that 320 billion Naira, or more than 95% of the total distribution for 2023, will go directly to tertiary institutions.

Echono added that the final 5% of the budget would be used for zone capital projects, project monitoring, and personnel pay and benefits. He pointed out that 20% of the overall disbursement, or N64.2 billion, will be utilized for special interventions while 62% of the total disbursement, or N198 billion, will be the institutions’ yearly direct disbursement.

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.

According to Echono, the Special High Impact Intervention intends to pump significant funding into a select group of tertiary institutions to bring about a major improvement in the teaching and learning environment through program upgrade and improvement. The beneficiaries are picked based on a number of factors, such as the institution’s age and its location inside Nigeria.

Universities to benefit