FG Approves Disbursement Of N213.4bn TETFund Intervention Funds
By Victor Ernest With Agency Report.
The Federal Government says it has approved the Tertiary Trust Fund (TETFund) 2016 intervention budget of N213.4billion.
Dr Abdullahi Baffa, the Executive Secretary, TETFund, disclosed this at a news briefing in Abuja on Monday.
Giving a breakdown of the budget, he said each of the 40 federal universities and 34 state universities will receive the sum of N1.94billion.
Baffa added that each of the 54 public polytechnics would get N691 million while each of the 55 colleges of education will receive N679 million
He said this was the biggest annual disbursement given to any beneficiary institution since the establishment of TETFund.
According to him, what the trust fund disbursed this year ”shows more than three times what was allocated in the previous year.”
He stated that in a bid to ensure that institutions were manned by scholars that have terminal degrees, the trust fund had placed a high premium for them to have scholarships to study for higher degrees.
”That is why academic staff training and development is allocated N300 million for universities and N200 million each for polytechnics and colleges of education respectively.
He however added that the trust fund will ensure it monitored the allocation disbursed to each institutions to ensure the fund was judiciously utilised.