President Bola Tinubu has given the nod for the disbursement of N683,429,268 billion as the 2024 intervention fund for public tertiary schools in Nigeria. Sonny Echono, the Executive Secretary of Tertiary Education Trust Fund (TETFund), disclosed this during the Fund’s strategic planning meeting with heads of beneficiary institutions in Abuja on Friday.
Out of the total sum, 90.75% is allocated for direct disbursement, 8.94% for designated special projects, and 2.27% for responding to 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.
This intervention fund aims to address the persistent calls for improved funding in Nigerian schools, where strikes by lecturers have been a common occurrence, highlighting issues such as better pay and enhanced learning facilities. The announcement follows a history of strikes, with the most recent one in late 2022 when university lecturers suspended an eight-month strike over pay, welfare, and facilities.
