JUST IN 🔥🔥FG ANNOUNCES TETFUND NEW FUNDING RULES FOR TERTIARY INSTITUTIONS.
BY Prof HõlÃ¥ isããc ☦️
Minister of Education, Mr. Tunji Alausa, has announced that tertiary institutions in Nigeria with fewer than 2,000 students will no longer be eligible for funding from the Tertiary Education Trust Fund (TETFund). This decision aims to ensure efficient use of public resources and promote better performance in institutions.
Institutions with fewer than 2,000 students after five years of operation may be deemed ineligible for TETFund support.
The minister emphasized that allocating equal resources to underpopulated schools and those with higher student numbers is inefficient and unsustainable.
The government is repositioning the funding framework to incentivize performance and utilization.
The minister revealed that more funds will be invested in building local capacity, citing that 85% of Nigerian students sent abroad on government scholarships never returned to contribute to national development.
28 Centres of Excellence have been established across public and private institutions to offer postgraduate programs, enhance research, and create jobs.
The Executive Secretary of TETFund, Sonny Echono, stated that the agency is moving towards a more sustainable and performance-driven funding model.
Underperforming institutions risk being removed from the list of TETFund beneficiaries if they fail to meet enrollment and academic performance thresholds.
The goal is to enhance the credibility and impact of TETFund interventions, ensuring that resources are directed towards institutions committed to high standards of governance, transparency, and accountability.
Echono called for deeper accountability and reform across the tertiary education sector, emphasizing the need for best practices in governance, project management, and compliance.
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