By Mercy Aikoye
The Speaker of the House of Representatives, Hon. Tajudeen Abbas, has reaffirmed the house’s commitment to ensuring accountability and transparency in the management of public funds. This statement was made at a public hearing on the proposed amendments to the Tertiary Education Trust Fund (TETFUND) Act (2011) in Abuja.
Abbas, represented by the Leader of the house, Hon. Julius Ihonvbere (APC-Edo), recalled that TETFUND was established in 2011 by an Act of the National Assembly. The fund’s primary function is to provide support to all levels of public tertiary institutions in the country, focusing on educational infrastructure and capacity building for academic staff.
Despite TETFUND’s successes, Abbas noted that limitations in the existing legal framework hinder the fund’s ability to meet current challenges and obligations. These limitations include the over-reliance on the fund by beneficiary institutions, which has discouraged innovation among tertiary administrators.
The proposed amendments aim to address these limitations by providing additional conditions for assessing funds for capital projects and strengthening guidelines for accessing and utilizing funds. Abbas emphasized the importance of transparency and accountability in the management of public funds, stating that the 10th House of Representatives has a responsibility to ensure this.
The Chairman of the committee, Hon. Mariam Onuoha (APC-Imo), explained that the bill was sponsored by the Speaker and referred to the committee after passing second reading. The bill aims to correct issues with poor project implementation and ensure proper oversight.
Onuoha stated that the committee will commence a school-by-school oversight from the second quarter of the year to ensure direct inspection and documentation of projects. This will help identify contractors who have not fulfilled their obligations and make necessary recommendations for sanctions.
The Executive Secretary of TETFUND, Mr. Sonny Echono, emphasized the need for proper management of the fund. He urged members of the National Assembly to cut down on establishment bills and instead recommend expansion of existing schools to better manage funds.
The President of the Academic Staff Union of Universities (ASUU), Prof. Emmanuel Osodeke, called for ASUU’s return to the TETFUND board and the establishment of an independent monitoring committee to oversee project implementation. Osodeke emphasized the importance of protecting TETFUND in ongoing tax reforms, stating that it is the lifeblood of tertiary education in Nigeria.
