The University of Ibadan, Obafemi Awolowo University, the University of Nigeria, and other federal universities would getN1,154,732,133.00 each as the Federal Government has approved the sum of N320,345,040, 835 as the 2023 intervention funds for all public tertiary education institutions in the country.
The Executive Secretary of Tertiary Education Trust Fund, Sonny Echono, who disclosed this in Abuja on Wednesday, during the annual strategic planning workshop with all heads of beneficiary institutions revealed that each public Polytechnic is also expected to receive N699,344,867.00 while the sum of N800,862,602 will be received by each college of education in the country.
He said, “I am pleased to inform you that Mr. President has approved the 2023 disbursement guidelines in the total sum of N320,345,040, 835. On the basis of this, each university shall get, for the Year 2023 intervention cycle, the total sum of N1,154,732,133.00.
“This comprises N954,732,123.00 as annual direct disbursement and N200 million as zonal intervention. Similarly, each Polytechnic shall get N699,344,867.00 comprising of N569,344,807.00 as annual direct disbursement and N130million as zonal intervention, while each College of education shall get N800,862,602 comprising of N670,862,602.00 as annual direct disbursement and N130million as zonal intervention.
“It is pertinent to note that this represents the highest disbursement to each beneficiary institution, since the inception of the Fund.”