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TETFund To Increase Disbursement To Institutions In 2024 Budget
The Tertiary Education Trust Fund (TETFund) says it has budgeted a significant increase in annual direct disbursements in response to improvement in tax collections.
The Executive Secretary of TETFund, Sonny Echono, made this known in Abuja yesterday at an Interactive session with heads of beneficiary institutions on the disbursement guidelines for 2024 intervention cycle.
The executive secretary, who appreciated the Federal Inland Revenue Service (FIRS) for its diligent efforts in collecting the education taxes, said that the 2023 collection was being allocated by the fund for the 2024 intervention projects.
Echono also said that its 2023 collection of education tax was the highest in a single year since inception.
The TETFund boss also attributed the high revenue to increases approved by the former and present administrations to 3 per cent of accessible profit and other factors diligently implemented by the FIRS in collaboration with the TETFund.
Speaking on the proposed areas of focus under the 2024 intervention programme, he said TETFund had budgeted a significant increase in annual direct disbursements in response to improvement in tax collections.
According to him, 90.54 per cent of taxes generated is budgeted for direct disbursement and designated 6.5 per cent for some projects and 2.94 for stabilisation to enable the fund respond to emerging issues, all of which are subject to final distribution/approvals.
“The proposed new interventions in the annual direct disbursement include the establishment of Career Centre/Unit in all categories of beneficiary institutions, as well as institution-based skills development for polytechnics to improve the employability and career prospects of students.
“For the Special Direct Disbursement, we have increased the allocation and number of beneficiary institutions for the Special High Impact Programme (SHIP),” he said.
He added m that SHIP would also focus on “provision of hostels using the Public Private Partnership arrangement for selected beneficiary institutions.
“We have sustained provisions for: Disaster recovery, Security Infrastructure; and Completion of abandoned projects.
“We have also sustained allocations for Research including National Research Fund Research and Innovation Fund, Up take of research findings to commercialisation, supervision of scholars Phd research.
”We have made provision for 4 Central Multipurpose Laboratories and an additional provision for the 3 Agricultural Laboratories/Farms initiated in 2023.
“We have sustained the implementation of the ICT roadmap with provision for converged services, subscription services for fixed cable /internet access and the Tertiary Education Research Application Services (TERAS) initiative.
“There will be upgrade of Laboratories, Workshops and Equipment to Universities, Polytechnics and Colleges of Education (Technical) for the 2024 Intervention Year. There will also be the Early grade resource centers phase II to Colleges of Education (NCCE),” he said.
He described the year 2023 as “an impactful year that had witnessed series of programmes such as the development of the TETFund ICT roadmap culminating in the deployment of the BIMS and launching of the TERAS platforms.
He added that there had also been the commencement of the designs and strategy for the innovation hubs to selected beneficiary institutions, and the constitution of the committee for the establishment of two central research laboratories.
Echono expressed the fund’s determination to deepen research, promote innovation and honing of skills, encourage the discovery and development of creative talents amongst scholars and especially the students as a major pillar of the renewed hope agenda of the present administration.
He appealed to external stakeholders, including the National Assembly, to minimise distractions as TETFund mobilises, harnesses and efficiently deploys all hands to the plough in restoring the tertiary institutions to the enviable heights envisioned by President Bola Tinubu.
Also, the Permanent Secretary, Federal Ministry of Education, Mr David Adejo, described TETFund as one of the agencies that gave succour to government when problems with unions in tertiary institutions arose.
Adejo commended the management of the fund for deciding to raise the disbursement percentage to 90.54 per cent instead of leaving it at the over 80 per cent disbursed in 2023.
According to him, the current administration has started weaning universities, polytechnics and colleges of education of government resources, something that should have begun long ago.
On his part, the Executive Secretary, National Commission for Colleges of Education(NCCE), Prof. Paulinus Okwelle, who also commended the fund for its activities, said there were no abandoned projects in colleges of education across the country.
Okwelle said some projects started by the fund in 2023 were already being commissioned, indicating that provosts of the colleges were doing very well in supervising the projects.
He however called for the maintenance of old infrastructures in some colleges of education as they were gradually decaying.
President Bola Tinubu has expressed confidence that the country would win the fight against insecurity.
The President gave the assurance at the Argungu International Fishing Festival in Argungu town, Kebbi State, on Saturday.
He noted that the relative peace currently being enjoyed in Kebbi and neighbouring states was the result of sustained investments in security intelligence, coordination among security agencies, and community engagement.
Tinubu assured farmers and fishermen of sustained federal support to guarantee food security and safety across the country.
“The peace we are witnessing today is not accidental. It is the outcome of deliberate and sustained efforts. I assure you that the fight against banditry, insurgency, and insecurity will be won.
“Our farmers, fishermen, traders, and families will go about their lawful activities without fear,” he assured.
The President commended the organisers of the festival for sustaining the cultural event for decades, noting that it had endured for 83 years despite social and security challenges.
Describing the Argungu festival as a powerful symbol of unity, resilience, and peaceful coexistence, Tinubu stated that it reflects the richness of the country’s culture and the opportunities to harness its natural and human resources for national growth.
He said, “Today, this festival stands as a powerful symbol of unity, resilience, and peaceful coexistence among our people.
“It reflects the richness of our culture, the strength of our traditions, and the opportunities inherent in harnessing our natural and human resources for national development.”
The President was received by a large crowd of residents, traditional rulers, fishermen, tourists, and government officials from across the country.
The President reaffirmed his administration’s commitment to youth and women empowerment, irrigation development, rural electrification, and agricultural productivity.
Earlier, the Kebbi State Governor, Nasir Idris, said his administration was determined to elevate the Argungu Fishing Festival to full international standards while pursuing aggressive development across critical sectors of the state.
The United States Embassy in Abuja and the Consulate General in Lagos will be closed today, in observance of Presidents’ Day.
The mission made this known in a notice shared on its official X page, yesterday.
“The U.S. Embassy in Abuja and the Consulate General in Lagos will be closed on Monday, February 16, 2026, in observance of Presidents’ Day,” the post read.
According to the embassy, Presidents’ Day was originally established to honour the birthday of the former US President, George Washington, but has evolved into a day to celebrate all U.S. presidents and their leadership in shaping the country’s history.
The embassy noted that the holiday also recognises the influence of U.S. presidents on global affairs.
In a related message, the mission highlighted that Washington created the first “Badge of Military Merit,” which later became the Purple Heart. The medal still bears Washington’s image today.
Presidents’ Day is observed on the third Monday of February annually in the United States as a federal holiday.
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Guterres Backs Nigeria’s Bid For UN Security Council Seat …Hails Tinubu’s Reforms, Regional Security Role
United Nations Secretary-General, António Guterres, has charged Nigeria with spearheading Africa’s quest for a restructured global order, describing the country as uniquely positioned to lead the continent toward superpower status.
Guterres, who backed Nigeria’s bid for the world body’s security council seat, also praised the economic reforms of the President Bola Tinubu-led administration as well as Nigeria’s leadership in stabilising the Sahel and ECOWAS regions, despite facing its own security challenges.
The UN scribe made the remarks last Friday night during a high-level bilateral meeting with Vice President Kashim Shettima on the sidelines of the 39th African Union (AU) Summit in Addis Ababa, Ethiopia.
Speaking during the meeting, Guterres said Nigeria’s large population, sustained democratic governance, vast natural and human resources, and longstanding commitment to multilateralism placed it in a unique position to lead Africa in the evolving global order.
“Given Nigeria’s demographic strength, democratic continuity and deep resource base, the country stands a real chance of leading Africa to becoming the next superpower in the evolving global architecture,” he said.
The UN Secretary-General and the vice president discussed key developments in Nigeria and the country’s expanding leadership role in promoting regional stability across West Africa and the Sahel.
Guterres commended the remarkable and outstanding reforms of the administration of President Tinubu, noting that Nigeria’s bold economic restructuring and security commitments have strengthened its continental standing.
The meeting focused on strengthening Nigeria–UN collaboration to advance global economic growth, peace and security, sustainable development, and a coordinated humanitarian response across Africa.
In his remarks, Shettima thanked the UN Secretary-General for his leadership in advancing global peace, noting that Africa has benefited immensely from his tenure, even as the United Nations undergoes internal restructuring.
“We remain committed to multilateralism and to deepening our partnerships with the United Nations and other global institutions,” the vice president said.
Shettima also reiterated Nigeria’s longstanding call for comprehensive reform of the United Nations system to reflect evolving global realities.
He emphasised that Africa must have stronger representation in global decision-making structures and declared that Nigeria deserves a permanent seat on the United Nations Security Council.
Both leaders pledged to deepen cooperation, with Guterres reaffirming the UN’s support for Nigeria’s reform agenda and its growing leadership role in advancing peace, security, and development across Africa.
