Connect with us

education

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

Published

on

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.”
Advertisement
Click to comment

Leave a Reply

Your email address will not be published.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

Advertisement

Latest News

Royals10 hours ago

Emir of Ilorin appoints 11-member caretaker committee for Alangua/Magaji forum

The Emir of Ilorin and Chairman Kwara State Traditional Council, Alhaji Ibrahim Sulu-Gambari, has approved the appointment of 11-member caretaker...

Celebrities12 hours ago

(PHOTOS)..Oluwo meets Emir of Kano, Mai-Borgu, IBB

Royals13 hours ago

Fayemi mourns late Olowo, Oba Olateru Olagbegi

Ekiti State Governor, Dr Kayode Fayemi has commiserated with the government and people of Ondo State and the Owo people...

Health16 hours ago

NAFDAC boss reveals tips on how to prevent kidney failure, diabetes, others

Authority of the National Agency for Food and Drug Adminitration and Control (NAFDAC) has  raised the alarm that Nigeria is...

Politics17 hours ago

Ondo Governor, Rotimi Akeredolu suspended from APC

Rotimi Akeredolu, Governor of Ondo State, has been suspended from the All Progressives Congress (APC) by the national leadership of...

news17 hours ago

Buhari extends Tanko’s tenure as Acting CJN

The National Judicial Council (NJC) has extended the appointment of Justice Tanko Muhammad as Acting Chief Justice of Nigeria (CJN)...

Entertainment3 days ago

Police arrests three Sunny Ade’s impersonators

The police on Wednesday arraigned three persons in an Ikeja Magistrates’ Court  for allegedly using the name of Afro-Juju icon,...

news3 days ago

Assets declaration: Onnoghen knows fate today

The Code of Conduct Tribunal (CCT) has fixed today for judgment in the charge of false and non-declaration of assets...

Politics3 days ago

Ndume: Borno citizens disown Gov Shettima over support for Lawan

Some concerned citizens of Borno State have dissociated themselves from Governor Kassim Shettima’s support for Senator Ahmad Lawan, against the...

Metro3 days ago

Easter: FG declares Friday and Monday as public holiday

The Federal Government has declared Friday, April 19 and Monday, April 22, public holidays to mark the 2019 Easter celebration....

Advertisement

Copyright © 2019 Royal News.