News
President Tinubu Approves N683.43 Billion Intervention Funds For Tertiary Institutions
the Financial injection aims to bolster the quality and infrastructure of higher education institutions across the country.
Abuja, Nigeria– President Bola Ahmed Tinubu has given the green light for the allocation of N683,429,268 billion as the 2024 Intervention Funds for public tertiary education institutions in Nigeria.
Sonny Echono, the Executive Secretary of Tertiary Education Trust Fund (TETFund), made this announcement during a strategic planning meeting with institution heads in Abuja on Friday.
Echono explained the breakdown of the funds, revealing that 90.75% is earmarked for direct disbursement, 8.94% for designated special projects, and a stabilization fund of 2.27% to address emerging issues.
He further specified that each university is allocated N1,906,944,930.00, each polytechnic N1,165,355,235.00, and each college of education N1,398,426,282.00 for the 2024 intervention cycle.
According to him, the Financial injection aims to bolster the quality and infrastructure of higher education institutions across the country.