Jubilation as Buhari Approves N320Bn Intervention Funds for Institutions

• Public institutions across the country will be receiving N320 billion as intervention funds from the Federal Government
• This was disclosed by the executive secretary of the Tertiary Education Trust Fund (TETFUND) Sonny Echono
• Echono said for the year 2023 intervention cycle, each university across states would get N1,154,732,133.00

President Muhammadu Buhari on Thursday, April 6, approved N320,345,040,835 for tertiary institutions across Nigeria.

Daily Trust reports that the money was approved by the president as an intervention fund for all public tertiary education institutions across states of the country.

Announcing the fund’s approval by the president, the executive secretary of the Tertiary Education Trust Fund, Sonny Echono, said the money would be released to institutions across Nigeria.

Speaking at the TETFund’s annual strategic planning workshop with all heads of benefitting institutions in Abuja, Echono said for the year 2023 intervention cycle, each university would get N1,154,732,133.00,

He added that the money comprises N954,732,123.00 as annual direct disbursement and N200m as a zonal intervention for the institutions.

At the meeting, Echono also noted that the purpose of the gathering was to receive feedback and evaluate the performance of the agency’s intervention lines to enhance a more robust delivery of its mandate.

He added that polytechnics across Nigeria will receive N699,344,867.00 comprising N569,344,807.00 as annual direct disbursement and N130m as zonal intervention.

For colleagues of education, they will get N800,862,602, comprising N670,862,602.00 as annual direct disbursement and N130m as zonal intervention.

His words:

“This remarkable success is due to sustained efforts at expanding and increasing the efficiency of collection of the Education Tax and added impetus is the gracious approval of Mr President for an increase in education tax from 2.0% to 2.5% in the year 2021.”

Apprehension as Buhari sacks NASENI boss, gives fresh directive on position

The executive vice chairman of the National Agency for Science and Engineering Infrastructure (NASENI) has been sacked.

Prof Mohammed Haruna’s appointment was terminated by President Muhammadu Buhari via a notice on a circular on Tuesday, April 4.

Haruna has also been ordered to hand over the affairs of his office to the most senior officer at NASENI immediately.

Finally, controversial Buhari’s minister resigns, detail emerge

The minister of state for petroleum resources, Timipre Sylva, has resigned to pursue his governorship ambition in Bayelsa.

Bashir Ahmad, the special assistant to President Muhammadu Buhari on Digital Communication, confirmed Sylva’s resignation.

It was earlier rumoured that Sylva was trying to evade the APC guideline that required him to resign before he could contest the party’s primary.