Sunday Echono, Executive Secretary of the Tertiary Education Trust Fund, has revealed intentions to distribute N18 billion to six public institutions as part of its Special High Impact Intervention.
During a press conference on Thursday, he revealed that N3 billion will be handed to six selected universities, N1 billion to six polytechnics, and N1 billion to six institutions of education across the country.
He also stated that over 95% of the N320 billion total TETFund payout in 2023 would go directly to eligible tertiary institutions.
Echono stated that the remaining 5% of the budget would be utilized for personnel wages and allowances, project monitoring, and zone capital projects.
Special Intervention monies will be used to directly fund chosen tertiary institutions to improve their programs and teaching and learning environments.
According to the enabling Act, allocations are normally provided equally based on the age of the institution per geopolitical zone in Nigeria and are decided at the discretion of the Board of Trustees.
The TETfund executive secretary also stated that the fund was aware of the issues that universities were facing, particularly the issue of persons targeting academic institutions, kidnapping children, and disrupting academic activity.
In terms of other intervention lines, Echono stated that N6 billion had been granted to institutions in security-prone locations, particularly those with internal security difficulties and institutions with adoption cases.
He stated that there was a need to conduct projects in institutions located in high-risk locations to improve student and instructor safety.
