Adelabu Commissions Multi Million Naira TETFUND Projects, Lauds FG On Students Loan Initiative
Sunday November 12, 2023
The Minister of Power, Chief Adebayo Adelabu has lauded the support of the Federal Government towards making Nigerian educational institutions globally competitive, noting that government’s support will further enhance the economic and technological development of the country.
The Minister stated this during the commissioning of Tertiary Education Trust Fund (TETFUND)-sponsored projects at the University of Ibadan and The Polytechnic, Ibadan, Oyo State.
” President (Bola Ahmed) Tinubu has demonstrated great commitment towards the development of education since the commencement of his administration in May 29, 2023, such as the introduction of the students’ loan initiative to improve access to tertiary education for indigent students, meeting personally with the leadership of the National Association of Nigerian Students (NANS) to discuss the welfare of Nigerian students and recently, approving waiver of the, ‘No Work, No Pay’ order on the Academic Staff Union of Universities (ASUU), which would pave the way for members of the union to receive part of their withheld salaries.
These are part of conscious efforts being made by this administration to address students’ challenges and create industrial harmony between staff unions and Government”,Adelabu stated.
Continuing, Adelabu said, ” you will recall that in recognition of the role of TETFund in the development of public tertiary educational institutions in Nigeria, and in a bid to further support and strengthen the intervention activities of the Fund, the President also approved the implementation of the upward review of Education Tax (EDT) to three percent with effect from September 2023.
This will, in no small measure, contribute more to the improved funding of the education sector and development of our public tertiary institutions.”
According to Adelabu, the projects commissioned and handed over to the two institutions would further enhance teaching and learning and improvement in academic standards.”
Very soon there will be an independent power plant for the University of Ibadan and it will be embedded into the existing distribution network, without passing through the National grid .
That’s the only way we can energize our institutions,” Adelabu said.”I wish to reiterate that education forms an integral part of President Tinubu administration’s Renewed Hope agenda, hence the Federal Government will continue to provide necessary support towards making our educational institutions globally competitive for economic and technological development of the country.“
It is on record that over the years, TETFund, through the support of the Federal Government has performed exceptionally in the provision of physical infrastructure, support for academic staff training and development, book publication, ICT, Research and development, among other interventions in public tertiary educational institutions across the country””I am delighted to note that three projects valued at N869,912,075.44 will be handed over to the institution’s management in the Faculties of Business and Communication Studies and Financial Management.
The Minister said apart from support for physical infrastructure and provision of equipment at The Polytechnic, Ibadan, TETFund has also sponsored 108 lecturers from the institution for Ph.D degrees in both foreign and local institutions at a total sum of N495,171,100.08; a total number of 105 lecturers for Masters Degrees in both foreign and local institutions totalling N206,086,956.00; while 312 staff have been sponsored for Conference Attendance locally and internationally at a total cost of N204,827,849.00.In their separate remarks the Vice Chancellor, University of Ibadan, Prof Kayode Adebowale and Rector of The Polytechnic, Ibadan, Prof Adebiyi Kazeem lauded the Federal government and leadership of TETFund for being passionate about development of the education sector.