By Muhammad Mamman
the Tertiary Education Trust Fund (TETFund) has unleashed a staggering 1.2 billion (₦1.6 trillion) to fuel transformative projects across UK-inspired tertiary institutions.
Aminu Masari, TETFund’s Governing Board Chairman and former Katsina State governor, revealed this game-changing allocation during a press briefing in Katsina on Sunday.
This record-breaking fund, amassed from a 3% education tax on company profits as mandated by the TETFund Act, marks the largest allocation in recent years.
Masari announced that 345 million (₦460 billion) – a hefty 40% of the total – will drive high-impact interventions across universities, polytechnics, and colleges of education nationwide.
Targeted Investments for Maximum Impact
In a strategic rollout, three institutions per state – a university, a polytechnic, and a college of education – have been selected to receive tailored funding.
“Our interventions are demand-driven,” Masari explained. “Institutions submit proposals, and we greenlight projects based on their needs and our resources.”
The funding blitz includes 169 million (₦225 billion) channelled to the Nigerian Education Loan Fund (NELFUND) to bolster the Federal Government’s student loan scheme, ensuring brighter futures for countless learners.
Additionally, 52 million (₦70 billion) is earmarked for eco-friendly energy projects, equipping institutions with solar or gas power facilities to ensure sustainable campuses.
A further 19 million (₦25 billion) will fortify campus security through cutting-edge measures like advanced streetlighting.
Revolutionising Healthcare Training
TETFund is also tackling Nigeria’s healthcare crisis head-on, with over 75 million (₦100 billion) already invested to supercharge medical sciences training.
Masari highlighted that 3 billion (₦4 billion) has been allocated to three institutions in each geopolitical zone to expand medical sciences and infrastructure.
This ambitious push aims to double the number of doctors, nurses, pharmacists, and lab technicians, addressing the brain drain plaguing the healthcare sector.
“This aligns with President Bola Tinubu’s vision to reverse the exodus of skilled medical professionals through deliberate, impactful policies,” Masari said, underscoring the urgency of bolstering healthcare delivery nationwide.
Rigorous Oversight for Results
With a robust monitoring and evaluation team, including expert consultants, TETFund ensures every pound is spent on approved projects.
Masari reaffirmed the fund’s commitment to driving annual interventions at state and zonal levels, ensuring equitable, high-impact results across the nation.
