The Tertiary Education Trust Fund (TETFUND) has threatened to cut financial support to beneficiary tertiary institutions across the country that are caught in the mismanagement of allocated funds and poor performance.
Thus is as the agency warned that it would de-list such tertiary institutions from its future support programmes.
This was contained in a statement by the Executive Secretary of TETFUND, Sonny Echono in Monday in Abuja.
Echono gave the warning during the one-day strategic engagement with heads of institutions, bursars, and heads of procurement of the beneficiary institutions.
The Executive Secretary noted that the policy was not meant to punish, but rather safeguard the credibility and impact of TETFUND interventions.
He said: “Let me be clear, institutions that consistently fail to access, utilize or retire funds appropriately. Or that fall short of enrollment and academic performance thresholds, risk being delisted as TETFUND beneficiary institutions.”
Echono also disclosed the intention of TETFUND to ensure that its resources were directed towards effective use. He stated that only institutions that were committed to high standards of governance, transparency, and accountability would receive funds.
According to him, the strategic engagement was targeted at addressing recurring challenges in Nigeria’s tertiary education sector. Improving project execution, and enhancing the quality of education.
Echono pointed out that a key focus of the Fund was the Academic Staff Training and Development (AST&D) intervention.
He noted that due to rising costs and incidents of scholars absconding, the foreign component of the TETFUND Scholarship for Academic Staff (TSAS) was suspended as of January 1, 2025. With emphasis now shifting to cost-effective, locally driven training.
The Executive Secretary stated that this year’s intervention budget prioritizes consolidation, sustainability, and the completion of abandoned projects.
“This engagement is not merely a meeting but a strategic convergence. It is designed to address recurring issues of concern. Streamlining project implementation, and enhance the overall quality of tertiary education delivery in our nation.
“As we move forward, let us approach today’s discussions with openness, collaboration, and a shared vision to elevate our institutions and the students we serve.
“Together, we can strengthen accountability and drive innovation. And ensure that the legacy of TETFUND remains impactful, equitable and enduring for generations to come,” he said.
In his remark, the Executive Secretary of the National Universities Commission (NUC), Professor Abdullahi Ribadu emphasized the importance of the meeting. He stated that it is important for evaluating the implementation and impact of TETFUND – supported projects in higher education institutions.
Represented by Dr. Joshua Atah, Ribadu appreciated TETFUND’s vital role in improving infrastructure, research, staff development, and academic quality. He stated that without its support, public education would struggle to survive.
The NUC chief acknowledged the adaptability of TETFUND’s policies. Such as suspending international scholarships to reallocate resources more effectively.
Ribadu urged tertiary institutions to be more responsive and ensure that interventions were relevant and efficiently executed.
He also encouraged judicious and timely use of funds and called for open and constructive dialogue during the engagement.
“This calls for greater responsiveness also on the part of the institutions. This responsiveness also includes the areas of the design and implementation of these interventions. And to ensure that they remain relevant, impactful, and aligned with the future of education in Nigeria.
“It’s also important that we judiciously utilize these resources. And not just judicious utilization but also in a timely manner so that we don’t lose the fund,” Ribadu said.