President Muhammadu Buhari has approved N161 billion as 2018 Tertiary Education Trust Fund (TETFund) intervention budget for 2019 intervention activities, in accordance with the provisions of the TETFund Act 2011. To this end, each public university in Nigeria will get an allocation of N785,832,700.00; Polytechnic, N536,703,502.00 and College of Education, N510,084,900.00.
TETFund Executive Secretary, Dr. Bichi Baffa, told journalists at a press conference in Abuja on Friday, that detailed breakdown of the allocations would be released after the Fund communicate the allocation letters to the institutions.
He, however, disclosed that TETFund has made tremendous progress in past few years particularly in increase in education tax collection and strict monitoring of institutional compliance, attributing it to huge support received from the Federal Government.
He revisited the 2018 achievements, which he said contributed to the sanitisation of the total TETFund operational system. “As at November 2018, the total education tax collection stood at N200,793,193,208.54. It indicated an increase of about 25.47 percent over the previous year’s collection of N154.9 billion.”
He confirmed that disbursement to universities, polytechnics and colleges of education in 2018 Fund disbursement for period of January to December, 2018 and which cuts across the various intervention lines was N133.84 billion. He added that universities got N66.93 billion, polytechnics N32.37 billion, and colleges of education, N32.65 billion.
