The Minister of Education, Chief Nyesom Wike, Thursday revealed that the federal government increased budgetary allocations to the ministry from N234.8billion in 2010 to N437billion in 2013 for the funding of education in the country
Wike, who spoke at a town hall meeting with stakeholders on Tertiary Education Trust Fund (TETfund) Interventions in the South-west geopolitical zone at the University of Ibadan, said the above was apart from other interventions through agencies such as the Universal Basic Education Commission and Tertiary Education Trust Fund and other government agencies.
He said during the year under review, the government made available to states the sum N125billion as matching grants to support the development of infrastructure and resources in basic education.
“In 2013, budgetary allocations to federal tertiary institutions stood at N336 billion. The TETFund further provides complimentary financial support to our tertiary institutions. In 2013, the number of institutions funded by TETFund increased from 164 to 179.”
He said it was because of the importance that the present administration under President Goodluck Jonathan attached to education, as part of its transformation agenda that it had sustained increased allocations to the education sector.
According to him, the time had come for Nigerians to appreciate the changing face of education in the country, especially at the tertiary level through the work of the present administration, stating that the challenge that must be noted is not the availability of funds but in the efficient and timely utilisation.
While enjoining states in the country to provide the necessary counterpart fund in order to access the several billions of naira outstanding in the matching grants to the states, he stated that many of the tertiary institutions had also not fully accessed their TETFund grants because of challenges of capacity in project implementation.
There were presentations on how TETFund interventions were utilised by heads of all federal educational institutions in the South-west such as the University of Ibadan, University of Lagos, University of Agriculture, Abeokuta, Yaba College of Technology, Federal Polytechnic, Ilaro and Federal College of Education (Special), Oyo.