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Govt releases N920 million for varsities' pension

Posted by From Mohammed Abubakar, Abuja on 2005/12/20 | Views: 463 |

Govt releases N920 million for varsities' pension


RESPITE may soon come the way of retirees of federal universities as the National Universities Commission (NUC), yesterday confirmed the receipt of N920 million for the payment of pensions and gratuities.

RESPITE may soon come the way of retirees of federal universities as the National Universities Commission (NUC), yesterday confirmed the receipt of N920 million for the payment of pensions and gratuities.

This figure comprises N725 million for the institutions, whose insurance companies had defaulted in payment over the years, while N195 million was for the regular monthly allocation to universities for pensions. The commission also revealed that, this year, the government has allocated about 11 per cent of the total budget to education, ranking the first.

In his weekly memo released yesterday, The National Universities Commission (NUC) Executive Secretary, Prof. Peter Okebukola, commended the Federal Government for its commitment in revamping the education sector by consistently making adequate provision to the sector in the last three years.

Giving the breakdown of the allocations for the special grants, Okebukola said, the University of Ibadan and University of Nigeria, Nsukka are leading with N112.8 million, followed by Ahmadu Bello University, Zaria which got N102.5 million. Others are the University of Lagos, which received N92.3 million as well as the Obafemi Awolowo University, Ile-Ife, with N89.7 million.

The University of Benin was allocated about N55 million, while the University of Calabar got N22.2 million; Universities of Ilorin, Port Harcourt got N20.2 million each while University of Jos got N20 million. The Bayero University, Kano and University of Maiduguri got N16.2 million apiece and Usmanu Danfodiyo, Sokoto and University of Uyo got N10.1 million each while the NUC Secretariat got N8.1 million.

As for the monthly pensions grant, the University of Ibadan and University of Nlgeria, Nsukka, again topped the chart with allocation of N22 million, followed by ABU with N20 million; University of Lagos was allocated N17 million and OAU gots N16 million, University of Calabar gets N11 million, while Universities of Ilorin and Port Harcourt got N10 million each.

Bayero University Kano, Universities of Maiduguri and Sokoto got N8 million each, while the Universities of Uyo and Nnamdi Azikiwe University, Awka got allocation of N5 million each. The Universities of Technology in Owerri, Akure, Minna, Yola and Abubakar Tafawa Balewa, Bauchi as well as the NUC Secretariat get N4 million allocation, the DAC, Zaria received N3 million, while the National Mathematical Centre, Abuja, French Language Village, Badagry, Lagos, the Arabic Village, Ngala and the Institute of Nigerian Languages, Aba, Abia State got N1.5 million each.

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Fay(Katy, Texas, US)says...

Actually translates to bravehearted.