Today, the Ministry of Finance (MoF) announced that President Muhammadu Buhari has approved the sum of NGN20 billion for the revitalization of Nigerian Universities.
The fund was released in keeping with the Memorandum of Understanding between ASUU and the Federal Government in 2013, the implementation of which had been stalled “due to revenue shortages and other reasons.”
According to the Minister, the funds will be released to the Universities in line with criteria established by NUC and will be monitored for implementation issues and in order to keep government promises to relevant stakeholders.
“The Minister of Finance, Zainab Shamsuna Ahmed, says: “Regarding funding measures for the Revitalization of Public Universities, you may recall that ASUU signed a MOU with the FG sometimes in 2013 on the terms and conditions on which the government would improve funding for staff welfare and provision of critical infrastructure.”
A Committee has been constituted by the Minister of Finance to ensure that the President’s directive is fully complied with: “To ensure that these Presidential directives are duly implemented in line with extant Financial Rules, I have constituted a Committee to be headed by the Secretary of Presidential Initiative on Continuous Audit (PICA), Dr. MK Dikwa (Mni).”