The Nigerian government has earmarked N940.5 billion for the Tertiary Education Trust Fund (TETFund) in the 2025 fiscal year, prioritising manpower and infrastructure development in Nigeria’s tertiary education sector.
President Bola Tinubu, represented by Rakiya Iliyasu, Director of Tertiary Education at the Federal Ministry of Education, disclosed this on Saturday during the 42nd Founders’ Day and 33rd Convocation Ceremony of the Federal University of Technology, Minna (FUT Minna).
Speaking at the event, President Tinubu highlighted the government’s commitment to supporting students through the Nigerian Education Loan Fund (NELFUND), revealing that over N104 billion in student loans had already been disbursed to more than 600,000 tertiary institution students nationwide.
He also urged Nigerian universities to strengthen collaborations with industries, ensuring that academic research aligns with societal and economic needs to drive national development.
Congratulating the graduating students, Tinubu praised their resilience and determination, encouraging them to pursue their future endeavours with confidence.
In January 2024, Minister of Education Tunji Alausa announced that TETFund would not finance new construction projects in 2025.
Instead, following President Tinubu’s directive, the fund would prioritise rehabilitating and upgrading existing infrastructure in tertiary institutions.
Under this policy shift, public universities, polytechnics, and colleges of education will use their 2025 intervention funds to renovate hostels, lecture theatres, auditoriums, laboratories, classrooms, and offices.
The goal is to maximise efficiency in the use of TETFund resources, ensuring that students and faculty members have access to well-maintained learning environments.
The Nigerian government also proposed amendments to the TETFund Act, mandating that 30% of TETFund’s revenue be allocated to NELFUND.
The amendment requires TETFund to set aside one-third of its revenue before disbursement and transfer it to NELFUND, which was created under the Students Loans (Access to Higher Education) Act.
Additionally, the proposed bill caps NELFUND’s annual administrative expenses at 5%, ensuring minimal overhead costs, and prevents more than 5% of its income from being spent on salaries, capital projects, or general services, prioritising student financial support.
With the 2025 allocation now increased to N940.5 billion, the Nigerian government aims to improve infrastructure maintenance while expanding student loan access to ensure broader support for Nigeria’s education sector.
