President Bola Tinubu has given approval for a total intervention fund of N683,429,268 billion for public tertiary schools in Nigeria in 2024.
The announcement was made by Sonny Echono, the Executive Secretary of Tertiary Education Trust Fund (TETFund), during a strategic planning meeting with heads of beneficiary institutions in Abuja.
The allocation breakdown includes 90.75% for direct disbursement to tertiary institutions, 8.94% for designated special projects, and 2.27% for addressing emerging issues.
For the 2024 intervention cycle, each university is set to receive N1,906,944,930.00, polytechnics N1,165,355,235.00, and each College of Education N1,398,426,282.00.
The intervention fund aims to address longstanding issues in Nigeria’s public schools, including calls for improved funding, better pay for lecturers, and enhanced facilities.
The move follows past strikes by university lecturers seeking better working conditions, pay, and overall improvements in the education sector.
The funds are expected to contribute to addressing these concerns and promoting the overall development of tertiary education in the country.
