FG Releases N38.93Bn Revitalisation Fund To 166 Public Tertiary Institutions
By Sunday Etuka
The Federal Government has disbursed N38.93 billion to 166 public tertiary institutions nationwide under the Needs Assessment Revitalisation Fund.
Disbursement covers 79 universities, 46 polytechnics and 41 colleges of education to support approved projects aimed at addressing infrastructure gaps and improving teaching and learning facilities.
According to a statement on Sunday by the Head of Media, Federal Ministry of Finance, Efe Ovuakporie, university components account for N28.5 billion for 79 institutions while 46 polytechnics have allocations totalling N5.8 billion. The 41 colleges of education are allocated N4.7 billion.
The ministry said intervention forms part of Federal Government efforts to address needs of public universities and support implementation of agreed measures under Memorandum of Understanding between the Federal Government and Academic Staff Union of Universities (ASUU).
The funds are expected to enable beneficiary institutions to commence or advance approved projects addressing critical infrastructure and other identified institutional needs with the overall objective of strengthening the quality of tertiary education in Nigeria.
The ministry added that disbursement underscores the importance of effective coordination between the Federal Ministry of Finance, Federal Ministry of Education and beneficiary institutions in ensuring approved public funding translates into tangible improvements in educational infrastructure and institutional capacity.
