A record N1.6 trillion has been allocated to Nigeria’s Tertiary Education Trust Fund (TETFund) for initiatives across colleges of education, universities, and polytechnics. This is the fund’s highest funding level since its establishment. The money will be used to improve student support, healthcare training, energy infrastructure, and education. It is derived from the 3% education tax on corporate profits that the TETFund Act requires.
During a media event in Katsina on Sunday, Aminu Bello Masari, the former governor of Katsina State and chairman of the TETFund’s governing board, made the announcement. Masari emphasized that institutions make proposals for approval based on their requirements and available resources, and that the interventions are driven by demand.
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Billions Allocated for Loans, Energy, and Security
Forty percent of the budget, or N460 billion, will be allocated directly to projects at tertiary institutions around the country. A college of education, a university, and a polytechnic have been chosen to receive these funds in each state.
N225 billion has been made available to the Nigerian Education Loan Fund (NELFUND) to support the Federal Government’s student loan program for students from low-income families, which is a significant step toward increasing student access to higher education.
N70 billion will be used to build gas- and solar-powered generating facilities to alleviate schools’ ongoing power problems and lessen reliance on the unreliable national grid. For improvements to campus security, including street lighting and other safety measures, an extra N25 billion has been allocated.
Healthcare Training and Strong Oversight
More than N100 billion has been set aside to improve medical sciences education in response to Nigeria’s increasing scarcity of medical personnel. Three institutions in each geopolitical zone have each been given N4 billion to improve facilities and training in medical, nursing, pharmacy, laboratory science, and related professions in accordance with President Bola Tinubu’s order to stop the outflow of healthcare personnel. The goal is to enhance service delivery across the country and double the number of healthcare professionals.
Masari assured Nigerians that the TETFund maintains a robust monitoring and evaluation system, backed by independent consultants, to ensure funds are only used for approved projects. He underlined that interventions are carried out annually at the state and zonal levels to guarantee equity and measurable outcomes.
With this historic allocation, TETFund is solidifying its position as a major force behind national development, promoting education, healthcare, energy, and student empowerment in accordance with Nigeria’s larger socioeconomic goals. “This will greatly improve healthcare delivery nationwide,” Masari said.
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