Nigeria’s Tertiary Education Trust Fund (TETFund) has secured ₦1.6 trillion (approximately $1.1 billion) in funding for critical projects across universities, polytechnics, and colleges of education nationwide. The announcement was made by TETFund’s Governing Board Chairman, Aminu Masari, during a press briefing in Katsina on Sunday. The allocation, the largest in recent years, was sourced from a 3% education tax levied on corporate profits under Nigerian law.
Masari, a former governor of Katsina State, revealed that 40% of the total—₦460 billion—will directly support infrastructure and academic programs in tertiary institutions. Each state will see interventions in three schools: one university, one polytechnic, and one College of Education. “These projects are demand-driven. Institutions submit proposals, and we approve them based on urgency and available funds,” he said, underscoring a tailored approach to addressing institutional needs.
A significant portion of the funds, ₦225 billion, has been allocated to Nigeria’s newly established Education Loan Fund (NELFUND) to support the federal government’s student loan initiative. This program aims to reduce financial barriers to higher education. An additional ₦70 billion was designated for renewable energy projects, including solar and gas-powered systems, to tackle persistent electricity shortages plaguing campuses. Security upgrades, such as street lighting and surveillance installations, will also receive ₦25 billion to enhance student and staff safety.
The announcement highlighted a specific focus on healthcare training amid Nigeria’s ongoing medical brain drain. Over ₦100 billion has been invested to expand medical programs, with three institutions in each of the country’s six geopolitical zones receiving ₦4 billion each. The goal, according to Masari, is to double the output of doctors, nurses, and other healthcare professionals to mitigate staffing crises worsened by the emigration of skilled workers. “President Tinubu is deeply concerned about the healthcare system’s fragility,” Masari noted, linking the investments to national strategies for recovery.
TETFund’s interventions, distributed annually, prioritize nationwide equity through state and zonal projects. Masari emphasized accountability, citing a dedicated monitoring team to ensure funds are used as intended. “We deploy consultants to verify compliance—every naira must serve its purpose,” he said. The investments reflect broader efforts to stabilize Nigeria’s education and healthcare sectors, addressing both immediate challenges and long-term systemic gaps.
