TETFund Unveils Record ₦1.6 Trillion Allocation for Tertiary Education, Medical Training, and Student Loans
TETFund has unveiled a record ₦1.6 trillion intervention to boost Nigeria’s tertiary education sector.
Funds will support infrastructure, healthcare training, energy, campus security, and student loans across the country.
The Tertiary Education Trust Fund (TETFund) has announced a historic ₦1.6 trillion intervention package for Nigeria’s tertiary institutions, marking the most significant single allocation in the agency’s history.
Derived from the 3% education tax on company profits as mandated by the TETFund Act, the record fund will support nationwide projects in education, healthcare training, energy infrastructure, campus security, and student loans.
Speaking at a media briefing in Katsina on Sunday, TETFund Governing Board Chairman and former Katsina State Governor, Aminu Bello Masari, said the interventions are tailored to the specific needs of institutions.
“The interventions are demand-driven. Institutions write to us, and we approve projects for them based on their needs and available resources,” he explained.
From the total ₦1.6 trillion, ₦460 billion, representing 40% of the fund, will be channeled directly to tertiary institutions nationwide. In each state, a university, a polytechnic, and a college of education have been selected as beneficiaries.
To expand access to higher education, ₦225 billion has been disbursed to the Nigerian Education Loan Fund (NELFUND) for the Federal Government’s student loan scheme targeting financially disadvantaged students.
In the area of energy, ₦70 billion is earmarked for solar and gas-powered facilities to help campuses reduce dependence on unstable grid electricity, while ₦25 billion is set aside for campus security upgrades, including street lighting and safety infrastructure.
In line with President Bola Tinubu’s directive to address Nigeria’s shortage of medical professionals, over ₦100 billion has been allocated to strengthen medical sciences training in tertiary institutions. Three institutions in each geopolitical zone will receive ₦4 billion each to expand infrastructure and training in medicine, nursing, pharmacy, laboratory science, and related fields.
Masari said the initiative aims to double the number of healthcare professionals in Nigeria and reverse the trend of skilled personnel leaving the country. “The President is worried about this trend and its impact on the healthcare system,” he noted.
Masari assured that TETFund maintains a strict monitoring and evaluation system, supported by independent consultants, to ensure transparency and prevent misuse of funds. Interventions are carried out annually at both state and zonal levels to guarantee equitable distribution and high-impact outcomes.
“With this record allocation, TETFund is positioning itself as a key driver of national development supporting education, healthcare, energy, and student empowerment in line with Nigeria’s socio-economic goals,” Masari stated.
