The Tertiary Education Trust Fund (TETFund) has disbursed N208 bn as total allocation for 2019 tertiary institutions fund.
Executive Secretary of TETFund, Professor Suleiman Bogoro, made this known at the annual meeting of TETFund beneficiary institutions Thursday in Abuja.
Bogoro said that universities got N826, 684, 392.00; polytechnics got the sum of N566, 701, 842. 00 and colleges of education received N542, 226, 346.00 each.
He said that 18 institutions drawn from six geopolitical zones in the country were to receive special high impact interventions.
Bogoro also explained that the 18 institutions that were critically selected in line with the provided guidelines received N5bn for the intervention.
He stated that six universities would receive N3 bn each, six polytechnics N1bn each and N1bn each would go to six colleges of education.
Bogoro said that the agency had ensured that the beneficiary institutions, who are recipients of the education tax utilise them judiciously.
He said the agency is monitoring projects and programmes approved for them by Board of Trustees.
”The Fund had undergone some internal restructuring and realignment for better and efficient service delivery,” he said.
Bogoro said a total of 55 colleges of education have benefited from micro-teaching laboratory, construction and furnishing, adding that the sum of N19, 977, 522, 916.59 had successfully been disbursed between January and June 2019 for physical infrastructure and library interventions.
He pointed out that the issue of stranded scholars abroad, which caused the nation and the fund embarrassment had been revisited promptly.
Bogoro, however, said that appropriate steps have been undertaken by the Fund to eliminate the lapses that led to the situation.
Meanwhile, the Executive Secretary, National Universities Commission (NUC), Professor Abubakar Rasheed, commended TETFund in the role played in ensuring the development of the country, especially as it concerns physical infrastructure in tertiary institutions.
Rasheed, however, said that the rising number of tertiary institutions was a challenge, which reduces interventions to the institutions.
He added that in 2019, the country has the largest number of intervention of the institution as more institutions were created.
He said Nigeria needs more universities, polytechnics and colleges of education but TETFund also needs to be protected so that the volume of intervention can be protected.
”The rising number of institutions is a challenge. Nigeria needs more institutions of tertiary education to provide more access to quality education.
”However, TETFund is also worry that with many institutions, the value of its intervention is minimised,” he said.
Rasheed, therefore, called on administrators of the various institutions to efficiently and successfully administer the funds while also urging them to be proactive in the processing of the fund.
He also called on chief executives of the institutions to engage other officials in their various institutions on utilisation of the fund.
President Muhammadu Buhari approved N161 bn for varsities, others as 2018 Tertiary Education Trust Fund (TETFund) intervention budget for 2019 intervention activities in accordance with the provisions of TETFund Act 2011.
Each public university in Nigeria got an allocation of N785,832,700; Polytechnic gets N536,703,502; and college of education N510,084,900. (NAN)