The most recent disbursement of N320.3 billion as an intervention fund for public tertiary institutions demonstrates President Muhammadu Buhari’s commitment to improving higher education in the nation.
In a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke, the Buhari Media Organisation (BMO) said that the 2023 Tertiary Education Trust Fund (TETFund) payout to tertiary institutions is the greatest in 30 years.
“If there is one administration that many Nigerians hold in contempt, it is President Muhammadu Buhari’s, which has been accused of ignoring the education sector.”
“However, the latest information from TETFund has once again demonstrated how insincere many of the administration’s critics have been in their assessment.”
“We have been bombarded with claims of inadequate funding for public tertiary institutions, but the facts on the ground continue to refute that claim, as evidenced by the latest TETFund approvals to schools.”
“According to the TETFund Executive Secretary, the allocation to tertiary institutions in 2023 is N320 billion, the highest disbursement to institutions since the Fund’s inception 30 years ago.”
“For the avoidance of doubt, each federal university will receive N1.154 billion, polytechnics will receive N699.3 million, and colleges of education will receive N800.8 million for 2023 alone.”
“This is unprecedented, and it goes without saying that there has never been a time in Nigerian history when public institutions of learning received this much, even at the height of previous administrations’ various oil booms,” the organisation noted.
According to BMO, public institutions of study received more financing under the Buhari administration than at any other period in the country’s history.
“We make the bold claim, based on publicly available data, that yearly allocations to these schools have consistently been higher under President Buhari’s watch than in previous years.”
“The disbursement to public universities, polytechnics, and colleges of education during the Buhari administration totaled N1.702 trillion, compared to N1.249 trillion from the fund’s inception in 1993 to 2014.”
“However, that of 2023 stood out clearly, and like officials from the Ministry of Education, we hope that beneficiary institutions will use the intervention funds wisely.”
