Tertiary Education Trust Fund, TETFund has charged Nigerian tertiary institutions to utilise 2023 N320,3 45,040,835.74 billion intervention funds in the most efficient and effective way.
The Executive Secretary, TETFund, Arc. Sonny Echono who gave this charge during a press conference assured that mechanism has been put in place for institutions to achieve results with the resources allocated to them.
While giving breakdown of the 2023 disbursement funds to tertiary institutions, Echono said TETFund will strengthen monitoring process to ensure accountability in the utilisation of the funds.
In the breakdown of the N320bn budget, Echono said the Fund approved total of N30 billion for disbursement to six Universities, six polytechnics and six colleges of education under its 2023 Special High Impact intervention.
According to him, each of the six beneficiary Universities would get N3 billion, while each of the 12 selected Colleges of Education and Polytechnics would get N1 billion.
Under the TETFund High Impact Project, one University, one college of education and one polytechnic are selected each from the six geopolitical zones of the country to benefit from the project every intervention year.
Echono added that Special Intervention is in rotation and usually at the discretion of the Board of Trustees for which allocations are zonal-based and are done equitably by the decision of the Board as enshrined in the enabling Act.
“For this year, the Special High Impact will be given to six universities and the six universities are; From the North Central zone we have Ibrahim Babangida University Lapai, from the north east zone we have Federal University Wukari in Taraba state, from the north west we have Federal University Birnin Kebbi, in the south east, we have Imo state university of agriculture and environmental sciences while in the south south, we have Edo state university and south west we have Federal university of technology Akure, Ondo state.”
The beneficiary polytechnics are; “Federal Polytechnics Offa, Federal Polytechnic Gombe, Federal Polytechnic Kabo, Kano state, Anambra State Polytechnic, Oko, Federal Polytechnic of Oil and Gas, Bonny and Oyo State College of Agriculture and Technology, Igboora are to get N1 billion each.
“Also, Plateau State COE, Federal COE,Yola, Federal COE, Zaria, Enugu State COE, Delta State COE and Tai Solarin COE are to get N1 billion each, Echono said.
“As I said, last year, six universities benefitted. We zone six every year and pick one from each zone. Next year, another six will be picked and the same applies. You also noticed that there is a balance between the state and federal institution and that is how we spread it.
“Still on the High Impact, we also do the same for Polytechnics and the colleges of education. So we have N1 billion each for six polytechnics and N1 billion each for six colleges of education, specifically for high impact projects,” he said.
Speaking further while giving a breakdown on the 2023 Intervention Budget of N320 billion, recently approved by President Muhammadu Buhari, Echono disclosed that N198 billion was disbursed under annual direct intervention to Universities representing 62 per cent of the budget.
He added that special disbursements took 20.06 per cent amounting to N64.2 billion, noting that this category include Special High Impact Project, security infrastructure, completion of distressed projects, which he said gurped N12 billion, construction of micro teaching laboratories and funding of teaching practice among others.
The TETFund boss further revealed that the sum of N32 billion would be disbursed for designated projects including Research and Innovative Fund, Institutionalisation of Research and Development (R&D) and Assistance for Global Research Centre located at University of Ibadan among others.
Echono said five per cent of the allocation would be used for staff salaries and allowances, project monitoring and zonal capital projects.
“Under this Special impact project you can also see that we have 18 different states, so its quite a big development to achieve,” he said.
He said the other area of intervention for the special intervention is students hostels.
“Many of you have seen deplorable accommodations our students live in. For a number of years now, we commenced these interventions and we will encourage schools because we believe the hostels are some of the areas where private sector funding can be attracted.
“Last year we released intervention in 20 institutions and the hostels have been completed. Another 20 institutions are ready this year, that is one of the importance of the special impact project.”
The TETfund executive secretary further said the Fund is aware of the challenges facing institutions, especially the issue of people targeting academic centres, kidnapping children and disrupting academic activities.
“So we are implementing strategies to enhance security in the institution,” he noted.
On Special disbursement, Echono said that N6 billion had been allocated to institutions in security-prone areas, especially those institutions with internal security challenges as well as institutions with cases of adoptions.
He said that there was a need to implement projects in institutions within security prone areas to enhance the security of the students and teachers.
Speaking on other intervention lines, Echono disclosed that N500 million had been allocated to some selected colleges of education from the six geopolitical zones for micro-teaching laboratories.
He also said under designated projects TETFund allocated N3 billion to three University of Agriculture to improve food security in Nigeria. Each University of Agriculture gets N1bn.
