Tetfund Applauds Increase In Proposed Education Budget

The Executive Secretary of Tertiary Education Trust Fund, TETFund has applauded the Nigerian government’s promise to progressively increase education budget and fund research to drive global competitiveness in the country.

At the 13th Thematic meeting of the TETFund Research and Development Standing Committee, RDSC, on Education, Bogoro said that the recent pronouncement by the government recognised basic education as a crucial foundation.

“The retirement age of our teachers has been moved from 60 to 65. I think this is very encouraging for teachers. Of course I mentioned earlier that those in the sciences will have better emoluments attached to their allowances . Government has announced its intention from the budget year of 2022 to raise education budget by 50 per cent and scale it up and gradually double it to 100 per cent by the year 2025″

The TETFund official futher said he looked forward to a situation where areas that have suffered inadequate funding from the appropriation window would be taken care of.

There should be a focus on increased funds that would be made available to institutions as most vibrant economies does, Nigeria should not be different.

In his words “The most vibrant economies are so because they have allowed education to dictate the way forward through qualitative research, to make a difference. In Nigeria it cannot be different. In Nigeria for instance, the facts are there that the south west zone have a comparative advantage over the other five geopolitical zones due to their consistent and massive investment in education starting from the time of late Obafemi Awolowo, with free education from the foundation upwards,”

Bogoro also disclosed that the draft for the establishment of the National Research and Development Foundation, NRDF has been submitted to the Minister of Education, Adamu Adamu, for inputs before transmission to the Federal Executive Council, FEC, for approval and onward submission to the National Assembly.

Immediate Past President, Academic Staff Union of Universities, ASUU, Professor Abiodun Ogunyemi acknowledged the submission noting that education remained the bedrock for every knowledge based economy and sustainable national development.