The Tertiary Education Trust Fund (TETFUND) has officially commenced the disbursement of N213 ,418,124 ,493.75 to the nation’s Public Universities, Polytechnics and Colleges of Education to kick-start the Fund’s 2017 intervention programmes.
Abdullahi Baffa,the Executive Secretary of the TETFUND made the disclosure on Tuesday in Abuja after a meeting held with the All the Vice Chancellors of Public Tertiary Institutions, all the Rectors of Public Polytechnics as well as all the Provosts of Public Colleges of Education in the country.
The meeting,it would be noted was a prelude to the annual strategic planning workshop, conveyed to discuss the year 2016 TETFUND allocation for 2017 Intervention activities,in addition to finding solution to the lingering problems of inaccessibility of the backlog of previous allocations by some beneficiary institutions,as well as discuss revised guideline for some interventions.
A breakdown of the disbursement for the 2017 Intervention activities show the following highlights: Annual direct disbursement was allocated N149,392,687,145 bn. Also high impact phase six was allocated N30bn;while zonal interventions and stabilization fund got N4bn and N10.6bn respectively.
Also,designated projects was allocated N5.4bn; while National Research Fund was also allocated N1bn.
Further breakdown shows that with this budget,each 40 Federal Universities and 34 State Universities will receive the sum of N1.9 bn. Each of the 54 Public Polytechnics get the sum of N691,632, 000 while each of the 55 colleges of Education receive the sum of N679.57 000.
The Executive Secretary observed that the disbursement was the highest by TETFUND given out to beneficiary institutions since the establishment of the institution.
Meanwhile,a comparative analysis shows that in 2011 for instance, each University show that each Public University receive N303 million as against the present N1.4 billion. Each Polytechnics receive N216 million, as against N691,632 ,000 while Colleges of Education were given N157 million, as against the present allocation of N679, 57 000.
Further comparison shows that in 2012,Universities were given N595 million, Polytechnics received N337 million and Colleges of Education received N319 million.
In 2015,Universities were given N330 million, Polytechnics N250 million and Colleges of Education N227 million respectively.
The comparison shows that the 2017 interventions budget reveals almost three times the allocation in previous years,which the Executive attributed to harvesting of more companies into FIRS tax net,and the TETFUND’s prioritization of Academic Excellence in Nigeria’s Tertiary institutions.
He said the fund is determined to accelerate the growth of manpower development in Nigeria’s Tertiary education,and to ensure that Nigeria’s higher institutions is manned by globally competitive administrators and lecturers.
He also noted that the TETFUND is determined with this disbursement to continuously bridge the infrastructure gaps in Nigeria’a Tertiary institution,in all the beneficiary institutions,in addition to boosting cutting edge research and learning in Nigeria’s Tertiary institutions.
Baffa noted that Academic research and learning was allocated N300 million for Universities, N200 million each for Polytechnics and Colleges of Education.
“This is against N100 million allocated for Universities last year,and N70 million for Polytechnics while N60 million was allocated for colleges of Education same last year.
It would be noted that the TETFUND was established and refocused to intervene in Public Tertiary Educations,which section 20 sub section 1 of the TETFUND enabling Act defines as a University, a Polytechnic or College of Education.
The Mandate of the Fund as encapsulated in section 6 of the TETFUND Act is to provide funding for the provision and maintenance of the following: Essential Physical infrastructure for Teaching and learning,infrastructure instructional material and equipment; research and Publication,and Academic staff and development.
