The Federal Government has allocated ₦940.5 billion to the Tertiary Education Trust Fund (TETFund) for the 2025 fiscal year. This allocation aims to enhance manpower and infrastructure development in the education sector.
Key Highlights:
- TETFund’s Allocation: ₦940.5 billion has been allocated to TETFund for the 2025 fiscal year.
- Focus on Maintenance: TETFund will prioritize maintaining existing facilities in tertiary institutions, rather than financing new constructions.
- Renovation and Improvement: Public universities, polytechnics, and colleges of education will utilize their 2025 intervention funds to renovate hostels, lecture theaters, auditoriums, laboratories, classrooms, and offices.
- Nigerian Education Loan Fund (NELFUND): The federal government has proposed amendments to the TETFund Act, reallocating 30% of its revenue to fund NELFUND.
- Record Disbursement: In 2024, the federal government approved a record ₦643.4 billion disbursement for tertiary institutions nationwide.
Source: Nairametrics
