Sonny Echono, Executive Secretary of the Tertiary Education Trust Fund (TETFund)
The Executive Secretary of the Tertiary Education Trust Fund (TETFund), Sonny Echono, has said the newly introduced Development Levy will help cut Nigeria’s out-of-school population and improve the quality of tertiary education.
Speaking at the 2025 TETFund Board of Trustees Town Hall in Lagos, Echono noted that the Fund will receive 50% of the levy from 2025, rising to 66.7% between 2027 and 2029, before being redirected to the Nigerian Education Loan Fund in 2030. The levy consolidates four existing statutory charges, including the Tertiary Education Tax and Information Technology Levy.
Echono explained that the funding will enhance infrastructure, research, and human capital development, producing graduates capable of competing globally and creating jobs locally. He credited President Bola Tinubu for safeguarding TETFund’s share amid proposals to reduce it.
Senate Committee Chairman on Tertiary Institutions, Muntari Dandutse, pledged continued legislative support. At the same time, Prof. Anthony Kila, DG of the Centre for International Advanced and Professional Studies, called for accountability in the utilisation of funds.
TETFund Board Chairman, Bello Masari, emphasised collaboration with institutions, communities, and industry partners, highlighting a ₦70 billion allocation in 2025 for sustainable energy projects on campuses.
Leave feedback about this