Nigerian schools will get 198 billion naira from TETFund in 2023. This is 62% of the 320 billion naira approved by the government.
A TETFund official confirmed in a document that schools in higher education will benefit from their 198 billion naira intervention in 2023.
This document shared with the News Agency of Nigeria shows how much money different types of schools, like universities and colleges, will get.
The official said the money is only for public schools, not private schools.
He also explained that TETFund helps with research, not just buildings and other things.
For example, they pay for teachers to get advanced degrees and do research.
So, the money helps with everything, not just one thing.
Earlier, TETFund gave letters to the heads of the schools that will get money.
He told them that the money is for specific projects.
The money is divided equally between universities, colleges, and polytechnics, no matter how big they are.
For other projects in 2023, TETFund set aside 30 billion naira for special projects in some schools.
Six universities will each get 3 billion naira, and six polytechnics and six colleges of education will each get 1 billion naira.
These universities, polytechnics, and colleges are located in different parts of the country.
Twenty percent of the money, which is 64.2 billion naira, will be used for special things.
These special things are decided by the TETFund board and are also given to different parts of the country.
Other things TETFund will do this year include setting up teaching labs in some colleges of education.
They will also give money for teacher training and for a research center at the University of Ibadan.
Some money will also be used to finish unfinished projects and to create innovation hubs.
The National Research Fund is meant to improve research in areas that are important to Nigeria, such as security and education.
TETFund was created to help public schools in Nigeria.
It was originally called the Education Trust Fund (ETF) in 1993, but it is now called the Tertiary Education Trust Fund.
Its main goal is to use funding and project management to improve, restore, and strengthen higher education in Nigeria.
They fund all levels of public schools, such as universities, colleges, and polytechnics.
Their funding helps schools build infrastructure, buy equipment, and support research.
They also help with teacher training and development.
The money can be used for a variety of things, including research on security, education, agriculture, and technology.
TETFund wants to help Nigeria’s economy and development goals by supporting high-quality education and research.
They hope this will help Nigeria achieve its Vision 2020 goals and beyond.