On Friday, during the strategic planning meeting in Abuja with heads of beneficiary institutions, Sonny Echono, the Executive Secretary of Tertiary Education Trust Fund (TETFund), revealed that President Bola Tinubu has approved a 2024 intervention fund of N683,429,268 billion for public tertiary schools in Nigeria.
Out of the total amount, 90.75% is allocated for direct disbursement, 8.94% for designated special projects, and 2.27% is earmarked for responding to emerging issues.
For the 2024 intervention cycle, each university is set to receive N1,906,944,930.00, polytechnics N1,165,355,235.00, and each College of Education N1,398,426,282.00.
The intervention fund aims to address the persistent calls for better funding of schools in Nigeria, where public school lecturers often resort to strikes to emphasize their demands for improved pay and facilities. In late 2022, university lecturers suspended an eight-month strike over similar issues, marking the second-longest strike by the Academic Staff Union of Universities (ASUU).