FG Spends N561.9 Billion on Tertiary, Secondary Education in 5 Years - Wike

FG Spends N561.9 Billion on Tertiary, Secondary Education in 5 Years – Wike:

The Supervising Minister of Education, Mr Nyesom Wike, on Tuesday said the Federal Government invested N561.9 billion in tertiary and secondary education between 2009 and 2013.

Wike said this at the opening of the 20th Nigerian Economic Summit in Abuja.

He explained that tertiary education attracted N522.2 billion, while secondary education got N39.7 billion in the period under review.

“The federal government invested a total sum of N522.2 billion within the period 2009 – 2013, in the area of project development, academic staff training and development, library development and other high impact projects in tertiary education.

“Out of this amount, N456.5 billion was accessed while N65.6 billion was committed but not accessed.

“The investment in tertiary education through Tertiary Education Trust Fund (TETfund to universities was N268.5 billion of which N35.1 billion was not accessed.

“The investment in polytechnics through TETfund was N129.3 billion of which N12.3 billion was not accessed while Colleges of Education got N124.4 billion with N18.1 billion not accessed.

“In addition to the funds released through TETfund, N94.1 billion was released to federal universities through the NUC for Direct Teaching and Laboratory Cost (DTLC) and Teaching and Research Equipment (TRE)’’, he said.

Wike said government, in 2013, earmarked N1.3 trillion for special intervention in the public universities over the next six years in response to the 2012 finding of needs assessment of Nigerian universities.

According to him, the breakdown of the investment in secondary education showed that N406.9 million was invested in curriculum review, renewal and improvement.

He added that N2.2 billion was invested in infrastructure development/equipment in public examinations with N1.9 billion for National Examinations Council and N256.8 million for West African Examinations Council.

The theme of the summit is: Transforming Education through Partnership for Global Competitiveness. (NAN)

Ace Your Exams: Join Our Online Classes For JAMB, WAEC, NECO & NABTEB Candidates

Olusegun Fapohunda
Meet The Author
This guide is authored by Olusegun Fapohunda, the founder and editor of MySchoolGist. Boasting over a decade of expertise in the education sector, Olusegun provides up-to-date information on educational topics, career opportunities, and breaking news stories.
You can connect with him on Twitter.