Connect with us


TETFund to commence disbursement of N161bn intervention fund to tertiary institutions Jan 7



Aminat Isah

Tertiary Education Trust Fund (TETFUND) will on Monday (tomorrow) commence the disbursement of the sum of N161 billion for tertiary institutions across Nigeria as the 2018 intervention fund just as President Muhammadu Buhari approved the guidelines for the exercise

ROYAL NEWS gathered that the total sum represents the education tax collection for year 2017 to be utilized for 2019 intervention activities in all the benefiting public tertiary education institutions.
The Executive Secretary of TETFund,  Abdullahi Baffa disclosed this at a press briefing stressing that the disbursement of the funds to tertiary institutions will commence on Monday 7th January 2019 (tomorrow).
Baffa noted that the intervention is in accordance with the provisions of the TETFund Act 2011and the Fund’s Guidelines for Accessing, Utilizing and Retiring Intervention funds.
According to him, “the intervention is another massive boost to the higher education institutions in Nigeria, especially at a time when the country is just recovering from the worst recession in its history, with each public university geting an allocation of N785,832,700.00; each public polytechnic N536,703,502.00; and each college of education will get an allocation of N510,084,900.00 respectively.
“Just like in the previous intervention years, the fund focused its interventions in Public Tertiary Education Institutions on the areas specified by the TETFund establishment Act 2011 comprising; Funding to provide essential physical infrastructure for teaching and learning and Funding to provide instructional materials and equipment.
Others according to him are; “Funding to support Research and Publication; Funding to support Academic Staff Training and Development; and Funding to support the improvement of quality and maintenance of standards in critical and essential areas of need in Beneficiary Institutions.
“In 2018, the TETFund fully implemented the 2017 Revised Guidelines for accessing intervention funds by beneficiary institutions to ease the processes of submission and approval of projects proposals for the various intervention lines of the Fund.  This contributed  significantly to beneficiary institutions delivering their 2017 intervention projects within the specified project cycles.
“The internal controls introduced by the Fund in 2017 resulted to high level of compliance with the Guidelines for accessing funds by beneficiary institutions throughout 2018. Education Tax Collection as at November 2018 was N200,793,193,208.54. It is an increase of about 25.47% over the previous year’s collection of N154.9 billion.”
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


Latest News

education3 hours ago

UNILORIN VC reveals methods to be adopted for recruitment

The Vice-Chancellor of the University of Ilorin, Prof. Sulyman Age Abdulkareem, has assured all job applicants that the management of...

education3 hours ago

SEE names of suspended JAMB CBT centres as registration closes on Thursday

About 17 Computer-Based Test centres have been suspended from registering candidates for the 2019 Unified Tertiary Matriculation Examination for involving...

news4 hours ago

Group condemns foreign election observers over alleged utterances

The Muslim Rights Concern (MURIC) has called attention to the strange utterances of foreign diplomats particularly the United States (US),...

top stories10 hours ago

Buhari’s Minister attacks Oshiomole for calling for INEC boss’s resignation

The minister of Communications, Barrister Adebayo Shittu, has attacked the national chairman of the All Progressives Congress, (APC) Comrade Adams...

Politics11 hours ago

Ex-president Jonathan finally reveals who Nigerians should vote for

Build up to the forthcoming Saturday 23 February presidential and national polls, former President Goodluck Jonathan has finally revealed what...

news14 hours ago

Postponed Polls: Result sheets missing, Ekweremadu cries out

Deputy Senate President, Senator Ike Ekweremadu, raised the alarm over the missing Independent National Electoral Commission, INEC result sheets for...

Politics14 hours ago

8 points you need to read as Buhari speaks tough at APC caucus meeting

The All Progressives Congress, (APC) caucus on Monday met in Abuja to review activities that surrounded the postponement of the...

news18 hours ago

Kwara INEC alleged of comprising, tempering with election materials

A socio-political organization in Kwara state, Kwara Advancement Initiative, has raised the alarm that sensitive election materials meant for presidential...

Foreign19 hours ago

Seven MPs stage walk -away over parliment’s support for Brexit

No fewer than seven MPs from Britain’s opposition Labour Party announced on Monday they were breaking away in protest at...

news1 day ago

Gov. Yahaya Bello’s crisis with deputy takes new dimension

The Kogi State Deputy Governor, Simon Achuba, has raised the alarm that his life is in danger following the withdrawal...



Copyright © 2018 Royal News.

%d bloggers like this: