The Federal Government would continue to provide necessary support towards making educational institutions globally competitive for economic and technological development of Nigeria.
Minister of Power Oloye Bayo Adelabu disclosed this in Ibadan during the commissioning of Tertiary Education Trust Fund TetFund intervention Projects at The Polytechnic Ibadan.
The three projects valued at N869,912,075.44 includes Faculty of Business and Communication Studies – 2019 Special Intervention,Faculty of Science Building – 2017-2018 (Merged) Annual Intervention and Faculty of Financial Management Building – 2020 Annual Intervention
Apart from support for physical infrastructure and provision of equipment at The Polytechnic Ibadan, I am pleased to note that TETFund has also sponsored 108 lecturers from this polytechnic for Ph.D degrees in both foreign and local institutions at a total sum of N495,171,100.08; a total number of 105 lecturers for Masters Degrees in both foreign and local institutions totalling N206,086,956.00; while 312 staff have been sponsored for Conference Attendance locally and abroad at a total cost of N204,827,849.00.
Adelabu who represented president Bola Tinubu at the event maintained that education forms an integral part of the President Bola Ahmed Tinubu administration’s Renewed Hope agenda.
He added that the implementation of the upward review of Education Tax (EDT) to 3 percent will in no small measure contribute more to the improved funding of the education sector and development of our public tertiary institutions.”President Bola Ahmed Tinubu remains totally committed towards providing greater support and the enabling environment to enable the Fund further improve on its performance.”
“It is important to also commend and appreciate the President for the commitment he has demonstrated towards the development of education since the commencement of his administration in May 29, 2023, such as the introduction of the students’ loan initiative to ease access to tertiary education for indigent students, meeting personally with the leadership of the National Association of Nigerian Students (NANS) to discuss the welfare of Nigerian students and recently, approving waiver of the ‘No Work, No Pay’ order on the Academic Staff Union of Universities (ASUU), which would pave the way for members of the union to receive part of their withheld salaries. These are part of conscious efforts being made by this administration to address students’ challenges and create industrial harmony between staff unions and Government.
While congratulating the institution for the opportunity, Chief Adelabu urged them to ensure proper maintainance of the project and assured them of more intervention.
In his speech, The Executive Secretary of TeTFund Architect Sonny ST Echono who was Babatunde Olajide, Director, Monitoring and Evaluation said ” It is our commitment at TETFund to ensure that value is obtained for funds allocated to the benefitting institutions, to aid teaching, learning and research and by implication, make them globally competitive. The Polytechnic is particularly significant in view of the strategic position it occupies in the training of technology-based courses, with strong emphasis on technical skills acquisition and doing applied research”
The Rector of the institution Professor.l Kazeem Adebiyi while appreciating the Federal government on the intervention project assured them that the project will be properly utilized.
