FG Approves N470bn for Upward Adjustment Of Lecturers' Salaries

The 2023 budget includes N470bn for university revitalization and salary increases.

N300bn is for university revitalisation, and N170bn for lecturers' salary increases.

FG Approves Funds for Upward Review Of Lecturers' Salaries

The Federal Government has allocated N470 billion in the 2023 budget for university revitalization and salary increases for lecturers.

The Minister of Finance, Zainab Ahmed, stated at a press conference in Abuja on Wednesday that the sum was specifically allocated to education for upward adjustment of salaries for university lecturers and university revitalization.

The sum of N300 billion is for university revitalization, and N170 billion is for salary increases for university instructors.

According to her, the draught 2023 budget was produced in the context of worldwide issues like as the Russia-Ukraine war and the COVID-19 epidemic, and she added that revenue creation has been a big challenge to the country’s national development.

In terms of critical sector allocations, she stated that 2.05 trillion naira is set aside for education and 1.58 trillion naira for health.

She also stated that 2.74 trillion naira is allocated to defence and security, 998.9 billion naira is committed to infrastructure, and 756 billion naira is allocated to social development and poverty reduction.

Members of the Academic Staff Union of Universities (ASUU) recently suspended their eight-month strike over the upward review of lecturers’ welfare, amongst others.

JAMB Not Required, Proceed Directly to 200-Level! Secure Your Spot in Any Nigerian University. Affordable Fees! Call +2348033006849 Right Away!

Spread the Word: If you found this post useful, help others discover it too! Just click and share using the buttons below!

Olusegun Fapohunda

Meet The Author

This post is authored by , the founder and editor of MySchoolGist. Boasting over a decade of expertise in the education sector, Olusegun offers current insights into educational trends, career opportunities, and the latest news. Connect with him on X/Twitter for more updates.