The Federal Government says it has released N38.93 billion to 166 public tertiary institutions under the Needs Assessment Revitalisation Fund for infrastructure and teaching facilities.
The announced intervention covers 79 universities, 46 polytechnics and 41 colleges of education. The money is intended for approved projects at the beneficiary institutions.
Finance ministry media head Efe Ovuakporie disclosed the disbursement in a statement reported on Sunday. The ministry said universities were allocated N28.5 billion, polytechnics N5.8 billion and colleges of education N4.7 billion.
Those three stated allocations total N39 billion, N70 million more than the announced overall release of N38.93 billion. The statement as reported did not explain the difference.
The ministry linked the intervention to measures agreed between the government and the Academic Staff Union of Universities under their memorandum of understanding. It said the funding would address infrastructure gaps and other identified institutional needs.
Beneficiary institutions are expected to use the funds to begin or advance approved projects. The ministry said implementation would require coordination with the education ministry and the institutions.
Sources: Punch, Vanguard
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