TETFund has so far spent N1.45trn on infrastructure – Echono

The executive secretary of the Tertiary Education Trust Fund (TETFund), Mr. Sonny Echono, on Thursday in Abuja disclosed that the sum of N1.45 trillion was disbursed between 2017 and 2024 as part of its intervention in the nation’s universities. 

According to him, this covers upgrading of infrastructure, training of teachers both home and abroad and research activities.

“This is even as he announced that the sum of 3.8bn naira was used as bailout for stranded Nigerian students and scholars abroad,” he said.

He made the disclosure when the House of Representatives Committee on TETFund and other Services led by Mariam Onuoha visited the agency on oversight duties.

He said in the last one year, there has been a rise in education tax collected from 2.5 to 3 per cent, adding that the sum of N267bn was collected for 2020, 189.5bn for 2021, 328.8bn for 2022 and 725bn for 2023.

The improvement in 2023, he said, was attributed to an efficient collection arrangement put in place by Federal Inland Revenue Service (FIRS).

Echono said four multipurpose research centres were being established in four universities namely; the University of Lagos, University of Port Harcourt, Bayero University, Kano and the University of Abuja.

He added that plans were underway to establish one in the South-east either at the University of Nigeria, Nsukka, or Nnamdi Azikiwe University Awka. All these he noted are aside the various interventions in academic publications, provision for disasters like security for schools as a result of abduction.

Reacting, Onuoha said they were there to find out if the amount appropriated for use in the last budget was being channelled appropriately and possible problematic areas that might require their intervention.