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Akinwande Soji-Ojo
President Bola Tinubu has approved N683,429,268 billion as the 2024 intervention fund for public tertiary institutions in the country.
The Executive Secretary, Tertiary Education Trust Fund, (TETFund), Sonny Echono, disclosed this on Friday during a strategic planning meeting of the agency with heads of beneficiary institutions in Abuja.
According to him, 90.75 per cent is earmarked for direct disbursement while 8.94 per cent is for some designated special projects, and 2.27 per cent is budgeted for response to emerging issues.
He also revealed that each university will receive the sum of N1,906,944,930.00 while each polytechnic will get N1,165,355,235.00. Each College of Education will also receive N1,398,426,282.00.
The intervention fund is expected to go a long way in addressing the decades-long calls for better funding for tertiary institutions in the country.