The Federal Government has budgeted N470 billion in the 2023 budget for the funding of universities in the country.
This was stated by President Muhammadu Buhari while presenting the 2023 budget to a joint session of the National Assembly on Friday.
According to the President, the fund will be for the revitalization and enhancements in tertiary institutions.
He regrated the crisis that paralysed activities in the public universities in the country.
President Buhari said that he “expected the staff of these institutions to show a better appreciation of the current state of affairs in the country. In the determined effort to resolve the issue, we have provided a total of 470.0 billion in the 2023 budget from our constrained resources, for revitalization and salary enhancements in the tertiary institutions.”
He noted that it has become impracticable for the government alone to fund tertiary education, calling for more sustainable mode of funding.
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He said, “In most countries, the cost of education is jointly shared between the government and the people, especially at the tertiary level. It is imperative therefore that we introduce a more sustainable model of funding tertiary education.”
He added, “the government remains committed to the implementation of agreements reached with staff unions within available resources. This is why we have remained resolute that we will not sign any agreement that we would be unable to implement. Individual institutions would be encouraged to keep faith with any agreement reached in due course to ensure stability in the educational sector.”
Source: Dailypost
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