The 2023 Intervention Funds for public tertiary education institutions in Nigeria have been approved by President Muhammadu Buhari in the amount of N320.3 billion.
The Executive Secretary of Tertiary Education Trust Fund (TETFund), Sonny Echono, announced this during the Fund’s annual strategic planning workshop with heads of beneficiary institutions in Abuja on Wednesday.
Echono stated that the meeting was an opportunity to evaluate the performance of the intervention lines and receive feedback to improve the delivery of the agency’s mandate. In the 2023 intervention cycle, each university will receive N1,154,732,133.00, Polytechnic – N699,344,867.00, and each College of Education would get N800,862,602.
Echono noted that this represents the highest disbursement to each beneficiary institution since the inception of the Fund. He also attributed the success to sustained efforts at expanding and increasing the efficiency of collection of the Education Tax.
The Permanent Secretary of the Federal Ministry of Education, David Adejo, urged the beneficiary institutions to use the intervention funds prudently.
