TETFunds Reveals FG’s Approval Of N320.3bn Intervention Funds Benefit To Varsities, Others.

President, Major General Muhammadu Buhari (retd), has approved the sum of N320,345,040, 835 as the 2023 intervention funds for public tertiary education institutions in the country, as report by The PUNCH.

This was disclosed by the Executive Secretary of Tertiary Education Trust Fund, Sonny Echono on Wednesday during the Fund’s annual strategic planning workshop with all heads of beneficiary institutions in Abuja.

Echono said the meeting was an avenue to receive feedback and evaluate the performance of its intervention lines to enhance a more robust delivery of the agency’s mandate.

According to the TETFund boss, the 2023 intervention cycle will see each university receiving N1,154,732,133.00; Polytechnic – N699,344,867.00, while each College of Education would get N800,862,602.

In his words he said: “I am pleased to inform you that Mr. President has approved the 2023 disbursement guidelines in the total sum of N320,345,040, 835. Based on this, each university shall get, for the Year 2023 intervention cycle, the total sum of N1,154,732,133.00.

“This comprises N954,732,123.00 as annual direct disbursement and N200 million as zonal intervention. Similarly, each Polytechnic shall get N699,344,867.00 comprising of N569,344,807.00 as annual direct disbursement and N130million as zonal intervention, while each College of education shall get N800,862,602 comprising of N670,862,602.00 as annual direct disbursement and N130million as zonal intervention.

(Punch)