The Tertiary Education Trust Fund (TETFund) has begun the allocation process for the 2024 intervention projects.
Executive Secretary of TETFund, Arc Sonny Echono disclosed this at an Interactive session with heads of beneficiary institutions on the disbursement guidelines for 2024 intervention cycle.
Speaking on the proposed areas of focus under the 2024 intervention programme, he said TETFund has budgeted a significant increase in annual direct disbursements in response to improvement in tax collections.According to him, 90.54 percent of taxes generated is budgeted for direct disbursement and designated 6.5 per cent for some projects and 2.94 for stabilisation to enable the fund respond to emerging issues, all of which are subject to final distribution/approvals.
“We sincerely hope and call upon the FIRS to sustain and improve the growth of the collection to enable us to deliver on Mr. President’s promise to the Nigerian people and the improvement of our tertiary education sector for greater competitiveness and national development.” “There will be upgrades of Laboratories, Workshops and Equipment to Universities, Polytechnics and Colleges of Education for the 2024 Intervention Year. There will also be the Early grade resource centers phase II to Colleges of Education
He appealed to external stakeholders, including the National Assembly, to minimize distractions as TETFund mobilizes, harnesses and efficiently deploys all hands to the plough in restoring the tertiary institutions to the enviable heights envisioned by President Bola Tinubu. “We are also considering the institutional based skills development intervention line for our Polytechnics in line with the NBTE proposal and general desire of the Heads of our polytechnics to enable them deepen their core areas of Mandate. These new lines of intervention were conceived in response to popular requests by stakeholders.
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