President Muhammad Buhari (PMB) has approved a whooping sum of N161bn for the 2019 Tertiary Education Trust Fund (TETFUND) Intervention projects in Nigerian universities, polytechnics and colleges of education.
The Executive Secretary of TETFUND, Dr. Abdullahi Baffa who disclosed said that each public university would get an allocation of N785,832,700 while polytechnics will get N536,703,502 each from the said amount. Colleges of Education would get N510,084,900 of the amount.
According to Baffa, the approval of TETFUND 2018 Intervention Guidelines of N161 billion represented the education tax collection for 2017, which was a boost to the higher education institutions in the country.
He explained that the money had been allocated to eligible institutions for 2019 intervention projects in accordance with the provisions to the TETFUND Act 2011.
“The approval of the 2018 Intervention by President Muhammad Buhari in December 2018 heralds the commencement of the 2019 TETFUNF Intervention activities. The approved N161bn has been allocated to eligible institutions for 2019 Intervention activities in accordance with the provisions of the TETFUND Act 2011.
“Consequently, each public university will get an allocation of N785,832,700; each public polytechnic N536,703,502; and each College of Education will get an allocation of N510,084,900 respectively,” Baffa stated.
The Executive Secretary has however called on all institutions that are entitled to come to the FUND’s head office to collect their allocation letters from Monday, January 7, 2019.
He expressed optimism that the increased collection would translate to bigger allocations to public Tertiary Education Institutions leading to more projects, scholarship and research funds for the institutions.
Baffa thanked President Buhari for supporting the board’s management in its activities.