The Tertiary Education Trust Fund (TETFund) has disbursed nearly N2 trillion to Nigerian tertiary institutions between 2011 and 2024, according to its Executive Secretary, Sonny Echono. Speaking at the 41st Convocation Lecture of Olabisi Onabanjo University (OOU), Ago-Iwoye, Echono highlighted TETFund’s contributions to higher education development in Nigeria.
The funds have been used to enhance infrastructure across universities, polytechnics, and colleges of education, including the construction of senate buildings, classrooms, lecture theatres, ICT centers, laboratories, libraries, and hostels. Additionally, the intervention agency has provided scholarships for over 42,000 scholars both locally and abroad and approved nearly 150,000 academic and non-academic staff for conferences and workshops.
TETFund has also supported the publication of books and journals while funding research grants under the National Research Fund (NRF) and Institution-Based Research (IBR) programs. Echono emphasized that these efforts aim to strengthen tertiary institutions for sustainable national development, especially in Nigeria’s post-subsidy era.
To further improve the sector, he proposed a sustainable funding model, stronger research capacity, greater autonomy for institutions, and increased collaboration between academia and industry. He stressed that Nigeria’s tertiary education should align with national goals of unity, equality, and economic growth.
TETFund is currently executing innovative projects, including six multipurpose research laboratories, smart agricultural laboratory farms in multiple states, and six innovation hubs to foster entrepreneurship. Disaster recovery centers are also in development to support institutional resilience.
With sustained education tax collection and prudent fund management, TETFund aims to remain a world-class educational intervention agency and a financial pillar for research in Nigeria. Echono noted that the agency’s impact has gained recognition beyond Nigeria, inspiring similar models in other African nations.
“The consensus among stakeholders is that TETFund is making a significant impact on Nigeria’s tertiary education landscape,” Echono concluded, reaffirming the agency’s commitment to enhancing the nation’s higher education system.
SUN
