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Buhari approves N161 billion for 2019 TETFund interventions

By Akon Etumukwa

President Muhammadu Buhari has approved the 2018 intervention guideline of the Tertiary Education Trust Fund (TETFund) worth N161 billion.

Executive Secretary of TETFund, Dr Abdulahi Baffa, who disclosed this during a chat with newsmen in Abuja, said the amount represents the education tax collected in 2017.

Baffa  described the intervention as another  massive boost  to  the  higher  education  institutions  in  the  country  which is to  be  utilized  for  2019 intervention  activities  in  all  the  benefitting  public  tertiary education  institutions  in Nigeria.

The TETFund boss said the approved  sum  of  N161 billion  has  been  allocated  to  the  eligible  institutions  for  2019 intervention  activities  in accordance  with  the  provisions  of  the  TETFund  Act  2011.

“Consequently,  each  public  university  will  get  an  allocation  of  N785,832,700.00;  each public polytechnic  N536,703,502.00;  and  each  college  of education  will  get  an allocation  of  N510,084,900.00  respectively,” he said.

He invited  all beneficiary  institutions  to  proceed to  the  fund’s head office  in Abuja to  collect  their  allocation  letters  beginning  from  Monday  7th  January,  2019.

Baffa also disclosed that as at November 2018, the total education tax collection  stood at N200,793,193,208.54, indicating  an  increase  of  about  25.47 per cent over  the  previous year’s  collection  of  N154.9Billion.

According to him, the  growth  in  the  education  tax  collection  is  a  clear confirmation  that  Nigeria’s  economy  has  recovered  from  the  avoidable  recession  it was  plunged  into.

“The  increased  collection  will  obviously  translate  to  a  bigger  allocation  for  Public  Tertiary  Education Institutions  and therefore  more  projects,  more  scholarships,  more  research  funds  in  the  institutions.

“In  2018 Fund  disbursement  for  the  period  January  –  December,  2018  across  the  various intervention  lines  was  N133.84  Billion.    The  distribution  across  the  three  levels  are: Universities  –  N66.93Billion,  Polytechnics  –  N32.37Billion,  Colleges  of  Education  –N32.65Billion  while  others  were  N1.89  Billion.

“The  Fund  reaped  the  benefits  of  its  2017  Projects  Proposal  Defense  and  Access  Clinic for  institutions  in  2018  with  about  97%  increase  in  access  of  intervention  fund  by Beneficiary  Institutions  (from  N69.18B  in  2017  to  N133.84B  in  2018)  as  shown  in  the table  below,” he said.

He said in 2018, the  Board  of  Trustees  of  the  Fund  approved  the enlistment  of  16 new  beneficiary  institutions  after  meeting  all  the requirements  of enlistment, adding that the inclusion  was  the  first time  such  a  large  number  of  institutions got  enlisted  and  publicly  presented  with  certificates.

The  newly  enlisted  institutions include: Nigerian  Army  University,  Biu; Ondo  State  University  of  Science  and  Technology,  Okitipupa; First  Technical University,  Ibadan; Air  Force  Institute  of  Technology,  Kaduna; Binyaminu  Usman  Polytechnics, among others.

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