The Tertiary Education Trust Fund (TETFund) has received N1.6 trillion to support projects in tertiary institutions across Nigeria. Chairman of TETFund’s Governing Board and former Katsina State Governor, Aminu Masari, announced the development in Katsina, describing it as the highest allocation in the agency’s history.
The money comes from the three per cent education tax on company profits, as stated in the TETFund Act. Masari explained that 40 per cent of the funds, about N460 billion, will go directly into interventions for universities, polytechnics, and colleges of education nationwide. At the state level, three institutions in each State – one university, one polytechnic, and one college of education – have been selected to benefit. He said the intervention will help improve infrastructure, research, and overall quality of education in the country’s higher institutions.
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