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Buhari Endorse N161bn For Nigerian Tertiary Institutions

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President Muhammadu has approved N161 billion for the 2019 Tertiary Trust Fund (TETFund) Intervention activities in Nigerian universities, polytechnics and colleges of .

The Executive Secretary, TETFund, Dr Abdullahi Baffa, made the disclosure in on Friday at a news conference with journalists.

Baffa explained that the approval of TETFund 2018 Intervention Guidelines of N161 billion represented the tax collection for 2017, which was a boost to the higher institutions in the country

The approved N161 billion has been allocated to eligible institutions for 2019 Intervention activities in accordance with the provisions of the TETFund Act 2011.

‘‘Consequently, each public will get an allocation of N785,832,700; each public polytechnic N536,703,502; and each of education will get an allocation of N510,084,900 respectively,’’ he said.

Baffa added that detailed breakdown of the allocations would be released after the fund would have communicated the allocation letters to the institutions.

He, therefore, called on all institutions that are entitled to come to the Fund’s head office to collect their allocation letters from Monday, Jan. 7.

The executive secretary further said the fund would focus on providing essential physical infrastructure for teaching and learning, providing support research and publication and instructional materials and equipment.

He said other area of focus was funding to support academic staff training and development, as well as funding to support the maintenance of educational standards in the institutions.

‘‘In 2018, the fund fully implemented the 2017 Revised Guidelines for accessing Intervention funds by beneficiary institutions to ease the processes of submission and approval of projects proposals for the various Intervention lines of the fund.

‘‘This contributed significantly to beneficiary institutions delivering their 2017 Intervention projects within the specified project cycles.

‘‘The internal controls introduced by the fund in 2017 resulted to high level of compliance with the guidelines for accessing funds by beneficiary institutions throughout 2018,’’ he stressed.

Baffa added that as at November 2018, the total education tax collection stood at N200, 793,193,208.54, which showed an increase of 25.47 per cent over the previous year’s collection of N154.9billion

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Oliver King is the CEO of Olivergist.com and also a social media influence, He is a graduate of Ecotes Benin University with a BSc in International Relations. And also have Dip in Law from Bayero University. Oliver King has passion for blogging and loves what he does.

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