Tinubu Approves N683billion As 2024 Intervention Fund For Nigerian Universities, Polytechnics, Others

N683billion has been approved by President Bola Tinubu as the 2024 intervention fund for public tertiary institutions in the country.

These institutions include public universities, polytechnics, colleges of education and others.

This was disclosed by The Executive Secretary of Tertiary Education Trust Fund, TETFund, Sonny Echono, on Friday at the Fund’s strategic planning meeting with heads of beneficiary institutions in Abuja, according to Channels TV.

He explained that from the total, 90.75 per cent is earmarked for direct disbursement, 8.94 per cent for some designated special projects, and 2.27 per cent is budgeted for response to emerging issues.

He added that each university shall get for the Year 2024 intervention cycle, the total sum of N1,906,944,930.00, polytechnic N1,165,355,235.00 while each College of Education has N1,398,426,282.00.

SaharaReporters had reported how Nigerian university lecturers under the platform of the Academic Staff Union of Universities (ASUU) went on an eight-month strike over inadequate funding of public institutions among other deficiencies in the education sector.

The industrial action was the second longest by ASUU, known for its work stoppages. In 2020, during the Covid-19 pandemic, the university teachers went on strike for nine months.

The demands of the lecturers are the same as in previous strikes — higher pay, improved welfare, increased funding, and upgraded facilities.