By DAYO ADESULU
The Tertiary Education Trust Fund (TETFund) has issued a stern caution to Nigerian tertiary institutions. According to the Fund, institutions that mismanage allocations or fail to meet performance benchmarks risk being delisted from its intervention programmes.
This warning was delivered by the Executive Secretary of TETFund, Sonny Echono, during a one-day strategic engagement in Abuja on Monday. The event brought together heads of institutions, bursars, and procurement officers from various beneficiary institutions.
TETFund Sets New Accountability Standards
TETFund’s new policy comes amid concerns over fund mismanagement and delays in project execution. While addressing attendees, Echono clarified that the policy was not punitive. Instead, it aims to preserve the credibility, transparency, and impact of Tertiary Education Trust Fund interventions.
“Let me be clear, institutions that consistently fail to access, utilise, or retire funds appropriately, or that fall short of enrollment and academic performance thresholds, risk being delisted as TETFund beneficiary institutions,” Echono stated.
According to him, only institutions that demonstrate strong governance, transparency, and financial integrity will continue to benefit from the Fund’s support.
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TETFund: Foreign Scholarships Suspended Amid Rising Costs
During the engagement, Echono revealed a significant policy shift regarding the Academic Staff Training and Development (AST&D) intervention. He noted that the foreign scholarship component of the programme was suspended beginning January 1, 2025.
This decision was driven by escalating costs and increasing cases of scholars absconding after being sponsored abroad.
“Due to rising costs and incidents of scholars absconding, the foreign component of the Tertiary Education TrustFund Scholarship for Academic Staff was suspended. We are now shifting focus to local training that is more cost-effective and impactful,” he explained.
The Fund now prioritizes homegrown training programmes, which are seen as more sustainable and easier to monitor.
2025 Budget Focuses on Sustainability and Project Completion
This year’s intervention budget, according to Echono, emphasizes project consolidation and the completion of abandoned initiatives. The new approach intends to improve educational infrastructure and promote continuity in educational development projects.
“This engagement is not merely a meeting but a strategic convergence. It is designed to address recurring issues, streamline project implementation, and enhance the quality of tertiary education in Nigeria,” he said.
The Fund also aims to promote timely and efficient fund utilization across all beneficiary institutions.
NUC Commends TETFund’s Strategic Direction
Speaking at the engagement, Dr. Joshua Atah, who represented the Executive Secretary of the National Universities Commission (NUC), Professor Abdullahi Ribadu, praised the efforts of Tertiary Education Trust Fund. He stated that the Fund had significantly improved Nigeria’s tertiary education system through infrastructure upgrades, research development, and staff training.
“Without the support of TETFund, many public tertiary institutions in Nigeria would find it extremely difficult to survive,” Ribadu remarked.
He commended the Fund’s adaptability, especially in reallocating resources through the suspension of foreign scholarships. This move, he noted, allows for more impactful and efficient use of limited funds.
Institutions Urged to Ensure Timely and Judicious Use of Funds
Dr. Atah also challenged institutions to become more responsive and proactive. He emphasized that delays in project execution and poor fund management not only hinder development but may also lead to fund forfeiture.
“It is important that we judiciously utilise these resources. Not just judicious utilisation, but also in a timely manner so that we don’t lose the fund,” he cautioned.
He further encouraged institutions to align project designs with the evolving needs of the education sector, ensuring relevance and long-term impact.
TETFund to Uphold Legacy Through Accountability
Echono reiterated that TETFund remains committed to supporting institutions that align with its standards. He urged all stakeholders to work collaboratively towards improving the Nigerian tertiary education system.
“Together, we can strengthen accountability, drive innovation, and ensure that the legacy of TETFund remains impactful, equitable, and enduring for generations to come,” he concluded.
The event ended with a call for open dialogue, transparency, and shared commitment to excellence.
Key Takeaways:
- Institutions that misuse funds or underperform risk delisting by TETFund.
- Foreign scholarships for academic staff suspended due to cost and abuse.
- 2025 intervention budget will prioritize project completion and sustainability.
- NUC backs TETFund’s reforms and urges institutions to act responsibly.
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