President Bola Tinubu has approved N683,429,268 billion as
the 2024 Intervention Fund for public tertiary education institutions in the
country.
The Executive Secretary of Tertiary Education Trust Fund,
TETFund, Sonny Echono, made this disclosure on Friday at the Fund’s strategic
planning meeting with heads of beneficiary institutions in Abuja.
According to him, from the total, 90.75 per cent is
earmarked for direct disbursement, 8.94 per cent for some designated special
projects while 2.27 per cent is budgeted for response to emerging issues.
He also revealed that each benefiting university shall get, for the Year 2024 intervention cycle, the total sum of N1,906,944,930.00, each polytechnic will receive N1,165,355,235.00, while each College of Education will get N1,398,426,282.00.
Recall that the 2023 intervention cycle saw each university
getting N1,154,732,133.00; Polytechnic – N699,344,867.00, while each College of
Education received N800,862,602.
“I am pleased to inform you that Mr. President has approved
the Year 2024 disbursement guidelines in the total sum of N683,429,268, 402.64.
From this total, 90.75 % is budgeted for direct disbursement and 8.94 % for
some designated special projects. A stabilization of 2.27 % is allowed to
enable the Fund to respond to emerging issues.
“This is inclusive of the difference between actual
collections and the projections made for November and December 2023 collections
as requested and approved by Mr. President,” Echono said.
The acting Permanent Secretary of the Federal Ministry of
Education, Zubairu Abdullahi, on his part, said there is a new hope and
commitment from the President that everyone must key into.
He called on stakeholders to intensify efforts to achieve
Tinubu’s renewed hope agenda.
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