Following the approval by president Bola Ahmed Tinubu, GCFR, directing the prompt disbursement of N689 Billion intervention Fund to all Public Tertiary Institutions in the country for the year 2024.
The Executive Secretary, National Commission for Colleges of Education, professor Paulinus Okwelle at the Annual Strategic Meeting held in Abuja on January 12 to interact with various heads of beneficiary institutions ahead of disbursement, has expressed satisfaction with the judicious utilization of the Fund by the Heads of Colleges of Education sub-sector, stressing that colleges of education have shown true leadership by the prudence and accountability in managing the Tetfund intervention fund in their various institutions.
He also commended president Ahmed Tinubu for placing the education sector on the front burner of His Renewed Hope agenda. Adding that with this Renewed Hope maxim in the education sector, the multiplier effect will transcend across all the sectors of the economy.
While the Executive Secretary of TETFUND, Arc. Sonny Echono who is the chief host, charged beneficiary institutions to ensure the smooth, timely, judicious and effective implementation and utilization of the allocations towards achieving the much-needed impact.
According to him, 90.75 % of the total approved sum of N683,429,268, 402.64 is budgeted for direct disbursement, 8.94 % for some designated special projects while a stabilization of 2.27 % is allowed to enable the Fund respond to emerging issues.
Each University is to receive the total sum of N1,906,944,933.00 for the year 2024 intervention cycle; N1,165,355,235.00 for each polytechnic while each College of Education is to get N1,398,426,282.00.
Worthy of note is the fact that the amount disbursed to beneficiary institutions represents a very significant increase above last year’s intervention and indeed every other year, since inception of the Fund due to sustained efforts at expanding and increasing the efficiency of collection of the Education Tax, and the gracious concurrence of Mr. President for an increase in the tax from 2.5% to 3.0% last year.
Echono further advised the heads of beneficiary institutions saying “in addition to the broad-based budget and project monitoring committee stated in your letter of allocation, you should consult widely with the community in the implementation of your TETFund projects”.
“Furthermore, Heads of Institutions should ensure timely payments to contractors and vendors when due this will enable the proper completion of projects and mitigate the incidence of contractor writing letters of complaints to the Fund”.
For the Acting Permanent Secretary, Federal Ministry of Education, Alhaji Zubairo Abdullahi, with the kind of interest and support the education sector is already getting from the President Tinubu-led administration, there is need for all and sundry to redouble their efforts to make sure that the renewed hope agenda of Mr. President is achieved when it comes to education.
In his words “It is good for us to recognize that government has done so much for us. We need to recognize that there is a new commitment and a renewed hope that every one of us must live up to. It is not just enough to clap and say we have achieved this and that but we need to move forward and make ourselves more relevant in the scheme of things so that the education sector will continue to get more support from the government”.
“With the level of commitment from TETFUND; improvement in the amount of money generated recently as well as reduction in the timeline of approvals, I must draw the attention of the honourable minister to know that TETFUND needs a special commendation”, he said.
Dr. Chris Maiyaki who is the Acting Executive Secretary, National Universities Commission (NUC) while commending the Executive Secretary and Management of TETFUND for the giant strides and huge successes they have recorded so far, said the FUND has in recent times, proven to be a veritable tool for turning around the fortunes of our tertiary education system in Nigeria.
“Can you imagine the Nigerian tertiary education landscape without TETFUND intervention? It is inconceivable and unthinkable. I have listened to the novel interventions in capacity building, laboratories, research grants and innovation. Research is at the heart of the existence of the university. This meeting is taking place at a time when the clarion call for the rethinking of the pivotal role played by tertiary education in the country is getting louder and louder by the day”.
“I make bold to say that for us at NUC, we have aligned ourselves totally with the programmes and policies of TETFUND. Never in the history of our existence have both NUC and TETFUND enjoyed such excellent times than it is now”.
The President, Academic Staff Union of Universities (ASUU), Professor Emmanuel Osodeke while appreciating the Executive Secretary of TETFUND for involving Trade Unions in the monitoring the implementation of intervention funds to beneficiary institutions said while some of the institutions are using the fund extremely well, there are clear indications that some cannot manage the funds.
He therefore suggested that TETFUND should henceforth not hold institutions responsible but hold individuals responsible, saying if the heads of such institutions cannot manage the funds well, they should be punished. Professor Osodeke further called for collective support for the objection of the planned amendment by the National Assembly of the law establishing TETFUND with a view to include private universities among beneficiary institutions to the FUND’s interventions. According to him, the bill must not see the light of the day, arguing that rather than government spending money on interventions for private universities, they should be the ones paying tax to TETFUND.
Adagher Tersoo, a critic and public affairs analyst can be reached via adaghertersoo@gmail.com
