“Their judicious use of fund has ensured that it is respected by all stakeholders in the polity, from academic staff union to students, to university administrators to social commentators, critics and management of our educational institutions, political office holders and this is no doubt an evidence of the performance of TETFund,” he added.
He said based on the annual allocation to beneficiary institutions over the past 10 years , TETFund has succeeded significantly in its mandate, through provision of intervention support across its various intervention lines. “Also in a conscious effort to support the capacity of lecturers in public tertiary educational institutions, the Fund created the Academic Staff Training and Development Programme. To date, the Fund has sponsored close to 30,000 lecturers for master’s and Ph.D. programmes in both local and foreign institutions.
“In 2011, the Fund launched the National Research Fund with a seed fund of N3 billion as its take-off grant to support cutting edge research in areas of critical national need and development; and in 2015, N1Billion was added. Following the approval of the TETFund Board of Trustees in 2019, the NRF allocation became annual and N5Billion was approved for that year. In 2020, President Muhammadu Buhari approved an additional 50% increase in allocation to the NRF, being N7.