Nigeria’s tertiary education has received a lot of financial boost over the years courtesy of the Tertiary Education Trust Fund (TETFund).
FreshNews.NG leant that between 2011 and 2024, the agency pumped in N1.84 trillion into public tertiary institutions across the country.
TETFund Executive Secretary, Sonny Echono said Nigerian universities got N918 billion, polytechnics got N461 billion and colleges of education got N459 billion.
He noted that these funds have been used to execute projects that will improve the learning environment in higher institutions. Most of this funding went into infrastructure, with over 152,838 projects executed in various universities, polytechnics and colleges of education.
He said the projects include lecture halls, hostels, libraries, laboratories, road network, water supply and perimeter fencing.
According to him, the aim is to create an academic environment that promotes research, innovation and skill acquisition.
Investing in Human Capital
Beyond infrastructure, TETFund has also developed academic capacity.
Echono said over 42,000 scholars have benefited from TETFund scholarships for local and international studies.
And that almost 150,000 academic and non-academic staff have attended conferences and workshops funded by the agency. These initiatives ensure Nigerian lecturers and researchers are globally competitive, bringing in fresh ideas and expertise into the system.
TETFund’s success has been so impressive that other African countries are now adopting similar template to support their institutions.
The agency was established in 1993 during the military regime of General Ibrahim Babangida to address the decay in higher education caused by years of underfunding.
In 2011, its focus was restricted to tertiary institutions and is funded by 3% tax paid by registered companies in Nigeria.
Echono said tertiary education is key to national development as it provides the skilled manpower for economic growth.
He noted that without proper funding and strong institutions, the country will fall behind in global competitiveness.
TETFund Future
Echono said going forward, TETFund will go beyond infrastructure to deepen its focus on research, innovation and commercialization of research products.
He said the agency will continue to evolve so that Nigeria’s higher education will be globally relevant.
One of the initiatives is the national research fair which debuted in 2024.
He said this will be a major platform for showcasing groundbreaking research that can drive economic transformation. By funding research and development, Nigeria can bridge the gap between academia and industry and make scientific advancement more practical and commercially viable.
As part of its modernization, TETFund will enhance digital transition in tertiary institutions by providing more ICT facilities.
To improve teaching and learning experiences by integrating technology into classrooms and research.
Also Echono stressed the need for prudent allocation of funds. TETFund will ensure funds are disbursed efficiently, transparently and timely to maximize impact.
Echono believed that for Nigeria to be competitive and self reliant, its tertiary institutions must be strengthened.
Echono called for a sustainable funding model that will ensure long term financial stability for universities, polytechnics and colleges of education. He also stressed the need for stronger research capacity, institutional autonomy and better collaboration between academia and industry.
The future of Nigeria’s education system, he said, should be based on equality, justice and national unity.
As the country navigates economic challenges, investing in higher education is a smart way to secure the future.
A lot has been done by TETFund in the last 10 years, but more to be done. With the right policies, funding and innovation, tertiary education will drive national development.