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TETFund’s commitment to expanding access and building robust academic infrastructure is commendable. It has significantly bolstered the capabilities of our tertiary institutions. With optimal use of the allocated funds, our institutions can attain global competitiveness
The Minister of Education, Dr. Tunji Alausa, has reaffirmed the critical role of the Tertiary Education Trust Fund (TETFund) in advancing development across Nigeria’s tertiary institutions.
He emphasized that the agency remains a key pillar in enhancing access, infrastructure, and academic excellence in higher education.
Speaking over the weekend in Lagos during a strategic engagement session with Heads of Institutions, Bursars, and Heads of Procurement from TETFund beneficiary institutions, Dr. Alausa dispelled concerns over the future of the agency, assuring Nigerians that it would not be scrapped under the proposed Tax Reform Bill currently before the National Assembly.
Dr. Alausa further announced that President Bola Ahmed Tinubu had approved increased funding for TETFund, including a 50% development levy to strengthen its intervention capacity.
He praised the agency’s consistent contributions to the education sector, stating, “TETFund’s commitment to expanding access and building robust academic infrastructure is commendable. It has significantly bolstered the capabilities of our tertiary institutions. With optimal use of the allocated funds, our institutions can attain global competitiveness.”
However, the Minister issued a stern warning to underperforming institutions, cautioning that those failing to effectively utilize their allocated funds, meet student enrollment benchmarks, or adhere to procurement guidelines may face delisting as beneficiaries of TETFund interventions.
“We have ended the era where institutions receive funds without delivering results. Moving forward, institutions with student populations below 2,000 will no longer qualify for TETFund interventions,” he said. This policy shift, he explained, is aimed at safeguarding the integrity of the funding process and ensuring equitable resource distribution.
In his remarks, TETFund Executive Secretary, Sonny Echono, highlighted that the focus for the current intervention cycle is on consolidation and sustainability.
He noted that the Federal Government is prioritizing the completion of existing and abandoned projects, infrastructural rehabilitation, and the establishment of innovation hubs and entrepreneurship development centres to boost institutional resilience and capacity.