Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele
Federal Government has released ₦38.93 billion to 166 public tertiary institutions across the country under the Needs Assessment Revitalisation Fund, in a fresh move to improve infrastructure and the quality of teaching and learning in Nigeria’s higher education sector.
The intervention, announced by the Federal Ministry of Finance, will benefit 79 universities, 46 polytechnics and 41 colleges of education, with universities receiving the largest share of the allocation.
According to a statement issued by the Ministry’s Head of Media, Efe Ovuakporie, ₦28.5 billion was allocated to universities, ₦5.8 billion to polytechnics, while ₦4.7 billion was earmarked for colleges of education.
The Ministry said the funding is aimed at addressing long-standing infrastructure deficits in public tertiary institutions and strengthening the learning environment for millions of students across the country.
It explained that the intervention is part of the Federal Government’s commitment under its Memorandum of Understanding (MoU) with the Academic Staff Union of Universities (ASUU) to revitalise the nation’s higher education system.
According to the statement, the funds will enable the beneficiary institutions to begin new projects or accelerate ongoing approved infrastructure works critical to their operations.
The Ministry added that the investment is expected to improve classrooms, laboratories, workshops, libraries and other essential facilities needed to enhance academic delivery.
It stressed that the revitalisation fund will also strengthen the capacity of public tertiary institutions to provide quality education and produce graduates equipped to meet national development needs.
The latest disbursement underscores the Federal Government’s continued efforts to upgrade educational infrastructure and support reforms aimed at making Nigeria’s tertiary institutions more competitive.
