Tinubu Approves N683bn Intervention Fund for Tertiary Institutions

•  Okays redeployment, posting of 24 permanent secretaries 

•  Appoints 9-man board for Midstream and Downstream Gas Infrastructure Fund

Deji Elumoye, Olawale Ajimotokan and Kuni Tyessi in Abuja

President Bola Tinubu has approved the sum of N683, 429,268 billion as the 2024 Intervention Funds for public tertiary education institutions in the country.

The Executive Secretary of Tertiary Education Trust Fund (TETFund), Sonny Echono, disclosed this  yesterday, during the Fund’s strategic planning meeting with heads of beneficiary-institutions in Abuja.

Echono said from the total, 90.75 per cent was budgeted for direct disbursement and 8.94 per cent  for some designated special projects. A stabilisation of 2.27 per cent was allowed to enable the Fund respond to emerging issues.

He also disclosed that each university shall get for 2024 intervention cycle, a total sum of N1,906,944,930.00, each Polytechnic N1,165,355,235.00 while each College of Education shall get N1,398,426,282.00.

 So far, this year’s intervention witnessed a boost as compared to last year’s, which saw the disbursement of over N320 billion.

It would be recalled that the 2023 intervention cycle saw each university receiving N1,154,732,133.00; Polytechnic – N699,344,867.00, while each College of Education got N800,862,602.

“Mr. President has approved the Year 2024 disbursement guidelines in the total sum of N683,429,268, 402.64. From this total, 90.75% is budgeted for direct disbursement and 8.94% for some designated special projects. A stabilization of 2.27% is allowed to enable the Fund respond to emerging issues.

“Based on this approval, each university shall get, for the year 2024 intervention cycle, the total sum of N1,906,944,930.00. This comprises N1,656,944,930.00 as annual direct disbursement and N250 million as zonal intervention. 

“Similarly, each Polytechnic shall get N1,165,355,235.00 comprising of N1,015,355,235.00 as annual direct disbursement and N150 million as zonal intervention, while each College of Education shall get N1,398,426,282.00 comprising of N1,248,426,282.00 as annual direct disbursement and N150 million as zonal intervention.

“It is pertinent to note that this represents a very significant increase above our last year’s intervention and indeed every other year, since inception,” he explained.

Meanwhile, Tinubu has approved the complete overhaul and posting of 24 federal permanent secretaries in the Ministries, Departments and Agencies (MDAs) as part of the process of rebooting government activities.

Instructively some of the permanent secretaries included those appointed last year but yet to be assigned new portfolios.

In the latest reshuffling, Dr. Evelyn Ngige, was redeployed from Federal Ministry of Industry, Trade and Investment to midwife two portfolios: the newly created Federal Ministry of Arts and Culture and Creative Economy, and Federal Ministry of Similarly, Dr Magdalene Ajani was redeployed from Transportation Ministry to the Federal Capital Territory Administration( FCTA).

She would replace the incumbent permanent secretary FCTA, Mr Olusade Adesola, who is proceeding on retirement from the service.

Ajani, who resumed duties in 2020, would now be replaced by Mr Oloruntola Olufemi, who was moved from the Service Policies and Strategies Office (SPSO) OHCSF. 

 Jafiya Lydia Shehu, was redeployed from Common Service Office (CSO), OHCSF to the Federal Ministry of Finance.

James Sule, was also redeployed from the Federal Ministry of Innovation, Science and Technology to Ministry of Humanitarian Affairs and Poverty Alleviation, while Yakubu Adam Kofamata was moved from the Federal Civil Service Commission to the Federal Ministry of Power.

In the same manner, the president also approved the distribution of new portfolios to five of the permanent secretaries, who were appointed in November last year.

They include, Rimi Nura Abba; Permanent Secretary Federal Ministry of Industry, Trade and Investment and Ella Nicholas Agbo, who moves to the Ministry of Petroleum Resources.

Watti Tinuke takes over from Alhaji Ismaila Abubakar as permanent secretary Federal Ministry of Sports and Development, Ahmed Dunoma Umar is assigned to the Federal Ministry of Youth while Ndayako Aishetu Gogo is the new permanent secretary, Federal Ministry of Interior.

Three other new permanent secretaries were yet to assigned portfolios. 

They were Adeoye Ayodeji, Bako Deborah Odoh and Omachi Omenka.

In a related development, Tinubu yesterday, approved the appointment of a nine-man Governing Council for the Midstream and Downstream Gas Infrastructure Fund (MDGIF) to be domiciled in the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

The Governing Council of the MDGIF, according to a release issued by presidential spokesperson, Ajuri Ngelale, is chaired by the Minister of State, Petroleum Resources (Gas).

Other members of the board include Executive Director, Mr. Oluwole Adama;

Governing Council Secretary, Mr. Joseph Tolorunshe; NMDPRA Chief Executive, Engr. Farouk Ahmed and Representative of the Central Bank of Nigeria (CBN).

Other members of the governing council are

Representative of the Federal Ministry of Finance; MDGIF Independent Member, Ms. Amina Maina (North-East); MDGIF Independent Member, Mr. Edet David Ubong (South-South) and MDGIF Independent Member, Mr. Tajudeen Bolaji Musa (South-West)

The President mandated the appointees to discharge their duties by upholding the highest standards of transparency, discipline, and patriotism in line with his administration’s drive to enhance the role of the gas sector in achieving robust and inclusive economic growth for Nigeria.