Volume 10 Issue 2

Impact of TETFund in Nigerian Tertiary Education and the Way Forward: A Critical Review

Chukwudi

Abstract

The Tertiary Education Trust Fund (TETFUND) is an interventional initiative of the Federal Government of Nigeria, which manages the education tax funds for the improvement of tertiary education in Nigeria. TETFund serves as the major source of funding for educational and research activities in the public tertiary institutions across the country. Since inception, it has unarguably improved the quality and standard of teaching, learning and research in Nigeria’s tertiary institutions via various intervention programs such as physical infrastructure, instructional materials and equipment, academic staff training and research grants. However, the administration and management of the funds by TETFund is not without challenges, considering the huge mandate of the agency in a country with diverse interests and needs. The disbursement of the funds is faced with various irregularities and inadequacies, which when addressed, would improve service delivery. Hence, there is need for periodic review and reassessment of the operations of the agency for continued and improved performance. This review commissioned by the Nigerian Young Academy (NYA) as a critical stakeholder in the education sector took an in-depth look at the operations of TETFund with a view to finding ways to maximize the available limited funds for improved education and research output in Nigeria. While assessing the agency’s strengths and weaknesses in this review, recommendations that would help to address the identified inefficiencies towards improved service delivery and productivity of the funding body are also suggested. These suggestions would help achieve the long-awaited knowledge-driven industrial and technological revolutions in Nigeria within the shortest possible time if implemented accordingly.

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