TETFUND approves N161 Billion for 2019 interventions - aksu360

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TETFUND approves N161 Billion for 2019 interventions

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The Tertiary Education Fund (TETFund) has said it disbursed N134 billion to universities, polytechnics and colleges of education as intervention funds in 2018. The funds allocated to tertiary schools nearly doubled the N69 billion it disbursed in 2017.

As part of its 2018 year review, the Executive Secretary to the fund, Abdullahi Baffa, disclosed that the funds, in various amounts, were disbursed to the schools to aid developmental projects.
The Fund reaped the benefits of its 2017 projects proposal in defence and access clinics for Institutions in 2018 with about 49 per cent increase in access of intervention funds by the beneficiary institutions from N69.18 billion in 2017 to N133.84 billion in 2018
  
The report revealed that in 2018, the board of trustees of the Fund approved the enlistment of 16 new beneficiary institutions after they met all requirements. The schools include: 
  • Nigerian Army University, Biu; 
  • Ondo State University of Science and Technology, Okitipupa 
  • First Technical University, Ibadan 
  • Air Force Institute of Technology, Kaduna 
  • Binyaminu Usman Polytechnic, Hadejia.
  • College of Education Billiri Gombe State 
  • College of Education Kangere, Bauchi State 
  • College of Education Lanlate Oyo State 
  • Federal Polytechnic, Ukana, Akwa Ibom 
  • Gateway Polytechnic, Sapaade, Ogun State, among others.

The report also showed a significant increase by 25.47% in the Fund’s Education Tax Collection. As of November 2018, it said it generated N200 billion compared to N154.9 billion in 2017.

The official explained that the growth shows the country has recovered from its recession, adding that the increase would aid it allocate more to institutions to enable carry out projects, fund scholarships, and research.

Meanwhile, the agency has said N161 billion has been approved for interventions in Nigerian institutions in the 2019 budget. ”The approved N161 billion has been allocated to eligible institutions for 2019 Intervention activities in accordance with the provisions of the TETFund Act 2011,” Mr Baffa said.

The approval of the 2018 Intervention by President Muhammadu Buhari in December 2018 heralds the commencement of the 2019 TETFund Intervention activities. Consequently, each public university will get an allocation of N785.8 million; each public polytechnic N536.7 million; and each college of education will get an allocation of N510 million respectively

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