The Chairman of the Tertiary Education Trust Fund and a former Katsina State Governor, Aminu Masari, has disclosed that funds previously earmarked for suspended foreign programmes are now being redirected to critical interventions in Nigerian universities.
TETFund temporarily announced the suspension of its foreign training programmes due to the high exchange rate.
Speaking on Tuesday during the commissioning of five major projects at the Ikot Akpaden and Obio Akpa campuses of the Akwa Ibom State University, Masari lauded the management of the university for making good use of TETfund infrastructure funds
He said, “The projects we are here to commission today are five in number, with a total cost of N7,306,029,318.52 (Seven Billion, Three hundred and Six million, Twenty-nine thousand and Three hundred and Eighteen Naira, Fifty-two kobo only).
“However, due to high foreign exchange rates and the rising cost of overseas training as well as the unfortunate trend of some scholars absconding-TETFund has had to temporarily suspend foreign training programs.
“Instead, we are channelling resources into impactful special interventions, which we believe will yield significant dividends in the near future.
”With sustained judicious use of these funds, I am confident that the university will continue to position itself as a beacon of academic excellence and research, not only within this region but globally. ”
