President Bola Ahmed Tinubu has approved the 2024 Intervention Funds for public tertiary education institutions in the country.
Executive Secretary of Tertiary Education Trust Fund, TETFund, Sonny Echono, revealed this at the Fund’s strategic planning meeting with heads of beneficiary institutions in Abuja on Friday, 12 January, 2024.
Echoro said from the total, 90.75 per cent is earmarked for direct disbursement, 8.94 per cent for some designated special projects and 2.27 per cent is for response to emerging issues.
He explained that this is inclusive of the difference between actual collections and the projections made for November and December 2023 collections as requested and approved by the president.
According to him each Universities will get N1,906,944,930 billion, Polytechnics will receive N1,165,355,235 billion each and for the Colleges of Education they will get N1,398,426,282 billion each.
In 2023 intervention cycle saw each university getting N1,154,732,133.00; Polytechnic – N699,344,867.00, and each College of Education received N800,862,602.
On his part, the acting Permanent Secretary of the Federal Ministry of Education, Zubairu Abdullahi, said there is a new hope and commitment from the President that everyone must key into.
