TETfund Allocates N912m To Universities In 2014

 

Prof Ahaneku and students

The Tertiary Education Trust Fund (TETfund) has disclosed that each of the universities in Nigeria received an allocation of N912 million as intervention funds for the year 2014 just as it announced a considerable increase in the number of benefitting institutions across the country.

The Executive Secretary of TETfund, Prof. Suleiman Bogoro, who disclosed at a joint TETfund/FIRS (Federal Inland Revenue Service) interactive workshop in Enugu at the weekend noted that the annual increase in allocation was the impact of the strategic partnership between TETfund and FIRS.

He also disclosed that the number of benefitting institutions increased from 157 public tertiary institutions in 2010 to 183 in 2014.

“Allocations to each university grew from N303 million in 2010 to N912 million in 2014. Likewise, allocations to polytechnics rose from N183 million in 2010 to N661 million in 2014. The College of Education allocations also rose from N157 million in 2010 to N581 million in 2014.”

Bogoro noted that the continued success of the intervention activities would depend on proper project conceptualisation by benefitting institutions through wide range of consultations within the academic community and implementation based on full compliance with due process.

He listed the challenges facing the intervention activities to include the inability of some institutions to adopt sound project management principles, lack of connection between projects and institutions as well as none or partial compliance with requirement for due process.

The executive secretary, who was represented by Mr. Oladipo Salao, an Assistant Director, Cooperate Planning Department, TETfund, said the theme of the workshop, “Impact of Strategic Partnership in the Collection of Education Tax,” focuses mainly on the achievements recorded through the education tax collection over the years.

He said the workshop is to sustain and explore more areas of collaboration between the two organizations, to sensitise officers of TETfund and FIRS on the impact of strategic partnership in the collection of education tax and to inform FIRS officials of the developments in the fund.