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Varsities To Get N2.8bn, Polys N1.9bn As TETFund Announces 2025 Intervention
The Tertiary Education Trust Fund on Thursday announced the disbursement of the 2025 intervention cycle to public tertiary institutions in the country.
According to the Executive Secretary of the Fund, Sonny Echono, each university will get the sum of N2.8bn; polytechnics to get N1.9bn and Colleges of Education to get N2.1bn.
The Executive Secretary of TETFund, Arch. Sonny Echono, disclosed this at a strategic workshop with heads of beneficiary institutions on the 2025 disbursement guidelines in Abuja on Thursday.
Echono said: “Under this current disbursement cycle, each university will get N2,560,562,352.66 under normal allocation, with an additional N300,000,000.00 for zonal allocation, making N2,860,562,352.66 for each university.
“Each polytechnic will get N1,794,335,731.71 for normal allocation, with N200,000,000.00 for zonal allocation, amounting to N1,994,335,731.71.
“Each College of Education will receive N1,978,428,260.79 for normal allocation, with N200,000,000.00 for zonal allocation, amounting to N2,178,428,260.79.”
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He urged all heads of beneficiary institutions to ensure the full utilization of their 2024 and previous allocations while fast-tracking the procurement process to access their 2025 allocations.
The Executive Secretary said that, in line with the Federal Government’s directives, all Physical Infrastructure Development allocations for 2025 would be directed toward the upgrading, rehabilitation, and renovation of dilapidated infrastructure in beneficiary institutions.
“This was communicated to you earlier to enable you to consult widely and prepare your projects ahead of time. You were also advised to employ the services of your consultancy units and/or physical planning units in the preparation of projects. Under the current disbursement cycle, the Fund has significantly increased the allocation for research and innovation, academic staff training and development, as well as manuscript and book development.
“It has also significantly increased the number of beneficiary institutions for its special and designated projects.”
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He said the 2025 disbursement allocation is structured as follows: “The total direct disbursement of 91.08% is made up of 48.90% as annual direct disbursement and 42.18% as special direct disbursement. Designated projects account for 8.72%, while stabilization funds are 0.20%. In this regard, each category of beneficiary institution has been allocated the annual direct disbursement as follows.
“Under the special direct disbursement category, key initiatives include increased funding and expanded participation in the Special High Impact Programme completion of the National Library building in Abuja, establishment of mechanized farms in some universities, and accelerated provision of student hostels through Public-Private Partnerships and direct construction in fulfillment of the President’s promise to Nigerian students and in furtherance of plans for our institutions.
“Other key focus areas in the 2025 disbursement guidelines include expanding infrastructure to enhance student intake for doctors, nurses, pharmacists, and dentists in our universities and colleges of medicine, adoption of medical simulation and technology to improve curriculum delivery and patient care, provision of alternative power to selected beneficiary institutions to mitigate current difficulties in coping with energy costs.
“Other priorities include addressing campus security, enabling disaster recovery, and completing previously distressed projects. Research and innovation support will continue with provision for the National Research Fund, institutionalization of R&D, expanding partnerships, Research Meets Industry (Triple Helix initiative), and commercialization of research outcomes.”
According to him, TETFund is also making significant investments in laboratory and agricultural development. “Additional funding has been allocated for the recently approved central multipurpose research laboratories in Lagos, Abuja, Kano, and Port Harcourt, along with the establishment of two new ones.
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“Three new agricultural laboratories/demonstration farms will be set up, with additional support for the existing ones. Under designated projects, we will provide funding for the upgrading of engineering workshops and laboratories in universities, polytechnics, and colleges of education.
“There will also be increased funding for the National Skills Development/TVET program in our polytechnics. Some of the new intervention lines introduced include: Diaspora Outreach/Exchange Program, Staff Support Fund for universities, polytechnics, and colleges of education, provision of electric tricycles for campus transportation, and Student Startup/Innovation Grants.”
He further said the Fund is establishing 12 new Entrepreneurship for Innovation Hubs in polytechnics and colleges of education, noting that its TERAS platform aims to digitise and modernize learning institutions, aligning with global standards. “We have consistently encouraged beneficiaries to make the best use of the platform as we sustain our collaborations and subscriptions to these learning management systems.
“As part of our commitment to reducing reliance on government funding, institutions are requested to foster partnerships with the private sector for infrastructure development and facility management, starting with student hostels.”
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N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs
First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.
The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.
At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.
Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.
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Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.
“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.
“Women-led enterprises are critical to economic activity, yet they face structural barriers.
This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”
“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).
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“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”
Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.
Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.
Applications for the zero-interest loan are now open.Apply now.
News
Xenophobic Attacks: Oshiomhole Tells FG To Retaliate Against South African Companies In Nigeria
Senator Adams Oshiomhole has called on the Federal Government to retaliate against South African businesses operating in Nigeria following the recent attacks on Nigerians in South Africa.
Speaking during plenary on Tuesday, Oshiomhole said the Federal Government should consider revoking the working license of South African owned companies such as MTN and DSTV.
He argued that Nigeria must respond firmly to what he described as persistent hostility against its citizens.
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“I am not going to shed tears. If you hit me, I hit you. I think it is appropriate in diplomacy. It is an economic struggle,” Oshiomhole said.
He argued that while some South Africans accuse Nigerians of taking their jobs, Nigerians should return home and take over employment opportunities created by major South African companies operating in the country, including MTN and DSTV.
“When we hit back, the President of South Africa will not only talk but will also go on his knees to recognise that Nigeria cannot be intimidated.
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“We will not condone any life being lost. If a crime has been committed under the South African law they have the right to bring any such person to justice, but to kill our people as if we are helpless, we will not allow that,” Oshiomhole added.
DAILY POST reports that several Nigerians in South Africa have reportedly been attacked, and their businesses destroyed, in ongoing xenophobic attacks in the country.
News
IGP Orders Officers Display Name Tag On Uniform, Gives Update On State Police
The Inspector General of Police, IGP, Tunji Disu, has ordered all police personnel to always have their name tags on their uniforms for easy identification.
Disu disclosed that only police personnel who are undercover are exempted from displaying their name tags.
Speaking on Tuesday, Disu said: “All police officers should have their name tags. All of us on the high table have our names apart from the undercover among us so if you look at all the Commissioners of Police we have our name tags, so it’s not our standard.
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“All the Commissioners of Police are here and that is why we called this meeting, we have list of things like this that we will want to discuss with the Commissioners of Police, we have told them earlier and we will still let them know that every that happens within their area of jurisdiction falls under their control.”
On the issue of state police, the IGP said: “Since we got the signal that the Federal Government of Nigeria intend to establish State Police and since we are the federal police, we decided to take the bull by the horn and put down our own side of what we believe on how the state police should be run.
“A lot of things were taken into consideration, a lot of comparative analysis was done and it has been transmitted to the National Assembly.”
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