The President of Nigeria, Asiwaju Bola Tinubu has approved N683,429,268 billion as the 2024 intervention fund for public tertiary schools in Nigeria, The Global News reports.
Sonny Echono, Executive Secretary of Tertiary Education Trust Fund disclosed this on Friday at the Fund’s strategic planning meeting with heads of beneficiary institutions in Abuja.
He said that from the total, 90.75 per cent is earmarked for direct disbursement, 8.94 per cent for some designated special projects, and 2.27 per cent is budgeted for response to emerging issues.
The TETFund boss also disclosed that each university shall get for the Year 2024 intervention cycle, the total sum of N1,906,944,930.00, polytechnic N1,165,355,235.00
while each College of Education has N1,398,426,282.00.
The intervention fund is expected to go a long way in addressing the long the decades-long calls for better funding of schools in Nigeria. Lecturers in the country’s public schools have often resorted to strikes to drum home their demands which also included better pay and improved facilities for learning institutions.