President Bola Ahmed Tinubu has explained that over N2.18 trillion has been allocated to the education in the 2024 budget in demonstration of the administration’s determination to ensure substantial improvement in the sector.
President Tinubu stated this Thursday in a message to the 31/ 32 convocation ceremony of the Federal University of Technology (FUT) Minna.
Represented by Professor Chinedu Nwajuba of the National Universities Commission (NUC), President Tinubu explained that the amount is 80% higher than that of last year 2023.
He said, “My administration is determined to ensure substantial improvement in the education sector. Pursuant to this, we are increasing funding for this critical sector, which is clearly demonstrated by our allocation of N2.18 trillion to the education sector in 2024 Appropriation Bill, 80 percent higher than the N1.29 allotted in 2023”.
President Tinubu said this has made education the second highest sectoral allocation in the 2024 budget.
He reiterated the determination of the administration to address the challenges of welfare, infrastructure and other facilities that would enhance teaching, learning and innovation in the education sector.
He said, “As you are all aware, I have assented to the Student Loan Act, implementation of which will commence in January 2024. We expect that with this, indigent students would stay in school rather than drop out as had been the case for many in the past.”
He said that the country is facing security challenges on different fronts which has necessitated the increased deployment of resources to address same, adding that this situation is affecting the availability of funds for addressing other needs.
