The minister of Education Tunji Alausa, has identified the Tertiary Education Trust Fund (TETFUND) as a cornerstone of progress in the country’s higher institutions, emphasising that the agency will not be eliminated by the Tax Reform Bill.
Alausa addressed at a one-day Strategic Engagement with Heads of Institutions, Bursars, and Heads of Procurement of Beneficiary Institutions hosted by TETFUND on Friday in Lagos.
The Minister assuaged many stakeholders in the education sector’s fears that TETFUND might be dissolved, emphasising that President Bola Tinubu has approved more funds for the agency, including a 50% development levy.
Alausa said: “TETFund’s unwavering efforts in improving access, infrastructure and academic capacity across the nation tertiary education landscape deserve commendation.
“TETFUND will continue into eternity. The president has worked with the National Assembly on various amendments to the tax law.
The Fund has saved our tertiary institutions; if they maximise the funds they get effectively, they will be able to compete with other global institutions. It has remained a cornerstone in the nation’s tertiary institutions.”
The Minister also warned underperforming institutions in the utilisation of TETFUND funds, saying any institution that consistently underperforms and fails to meet enrollment benchmarks, or violates procurement protocols, risks being delisted as a TETFUND beneficiary.
He described it as a necessary measure to protect the integrity of the intervention framework and ensure equity in resource distribution.
Executive Secretary of TETFUND, Sonny Echono, said the focus for the 2025 intervention cycle is anchored on consolidation and sustainability, stressing that priority has been placed on the completion of existing and abandoned projects, infrastructural rehabilitation, and the establishment of innovation hubs and entrepreneurship development centres.
Echono said, despite suspending the foreign scholarship component, TETFUND remains committed to enhancing the skills and capacity of academic staff.
He noted that the Fund continues to place emphasis on locally driven academic development programmes and professional development, ensuring that scholars can continue to receive top-tier training, albeit within a more manageable cost framework.
He said to address sectoral challenges, the Fund has established two dedicated committees, the Committee on Power and the Committee on Special High Impact (SHIP) to Medical Colleges, to address critical issues in these sectors.
According to him, the Committee on Power focuses on improving energy infrastructure in institutions, while the Committee on SHIP to Medical colleges concentrates on enhancing the facilities and capacity to increase the intake of students.
He said 18 universities have benefited from this Special High Impact Projects aimed at improving medical training infrastructure.
