FG disburses ₦39bn to tertiary institutions

The Federal Government has disbursed the sum of ₦38.93 billion to 166 public tertiary institutions, nationwide, under the Needs Assessment Revitalisation Fund.

Details of the disbursement contained in a statement by the Head, Media Unit of the Federal Ministry of Finance, Efe Ovuakporie in Abuja, yesterday, showed that beneficiaries included 79 universities, 46 polytechnics and 41 colleges of education.

The funds would support approved projects aimed at addressing infrastructure gaps and improving teaching and learning facilities across the institutions.

The university component accounts for ₦28.5 billion for 79 institutions, while 46 polytechnics have allocations totalling ₦5.8 billion. The 41 colleges of education received ₦4.7 billion.

The statement read in part, “The intervention forms part of the Federal Government’s efforts to address the needs of public universities and support the implementation of agreed measures under the Memorandum of Understanding between the Federal Government and the Academic Staff Union of Universities (ASUU).

“The funds are expected to enable beneficiary institutions to commence or advance approved projects addressing critical infrastructure and other identified institutional needs, with the overall objective of strengthening the quality of tertiary education in Nigeria.

The disbursement underscores the importance of effective coordination between the Federal Ministry of Finance, the Federal Ministry of Education and beneficiary institutions in ensuring that approved public funding translates into tangible improvements in educational infrastructure and institutional capacity.”