Vice chancellors of public universities in Nigeria are gearing up to fiercely resist what they consider a new extortion scheme by some members of a committee of the House of Representatives to shake them down. The face-off between the vice-chancellors and the lawmakers concerns the N683 billion 2024 intervention fund the federal government recently approved for the nation’s publicly-owned tertiary institutions.
Vice chancellors of public universities in Nigeria are gearing up to fiercely resist what they consider a new extortion scheme by some members of a committee of the House of Representatives to shake them down. The face-off between the vice-chancellors and the lawmakers concerns the N683 billion 2024 intervention fund the federal government recently approved for the nation’s publicly-owned tertiary institutions, PREMIUM TIMES can exclusively report.
The fund-starved public schools are expected to get a respite with this intervention which is twice the N320 billion they got in 2023. Yet, experts believe the fund is a drop in the ocean due to the enormous needs of the institutions. The sharing formula shows that each university will get N1.9 billion comprising N1.6 billion annual direct disbursement and N250 million from zonal intervention fund. Each polytechnic will get N1.1 billion; N1 billion as annual direct disbursement and N150 million from zonal intervention fund. On their part, each of the colleges of education will get N1.3 billion each. While N
Nigeria Vice Chancellors Public Universities Extortion Scheme House Of Representatives Intervention Fund
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