By Martin Paul in Abuja
The Executive Secretary Tertiary Education Trust Fund (TETFund), Dr. Abdullahi Baffa, has said that the Federal Government has approved N161 billion for disbursement as 2019 intervention to federal universities, polytechnics and colleges of education in the country.
Baffa said Friday at a press briefing in Abuja that the amount was meant for eligible institutions for 2019 intervention activities in accordance with the provisions of TETFund Act of 2011.
He said while the universities would receive N785,832,700 each, polytechnics would get N536,703,502 each while the colleges of education would receive N510,084,900.
While advising beneficiary institutions to begin the process of accessing the fund from Monday January 7, Baffa said: “The details breakdown of the allocations would be released after the Fund communicates the allocation letters to the institutions”.
Describing it as New Year gift from President Muhammad Buhari, Baffa said the money was education tax collection for 2017.
“Obviously, this is yet another massive boost to higher institutions in our country especially
at a time when our country is just recovering from the worst recession in our history” Baffa added.