The Tertiary Education Trust Fund (TETFund) has expressed concerns over challenges caused by the recent monetary policy of the Central Bank of Nigeria, impacting the payment of foreign scholarship tuition and stipends. This issue was discussed during a Stakeholders’ Engagement in Abuja.
Sonny Echono, the Executive Secretary of TETFund, highlighted the strain on their allocation, especially for the Tertiary Scholarship for Academic Staff (TSAS). In response, the fund is considering suspending foreign scholarships and potentially increasing support for local scholarships. Scholars not returning to serve their bonds and absconding after completing their programs have complicated the TSAS program.
Echono mentioned TETFund’s recent agreements with prestigious foreign institutions to enhance the TSAS program. He also noted the establishment of committees for quality assurance in various interventions, like the National Research Fund Screening and Monitoring Committee and the Technical Advisory Group for the Book Development Fund.
Chris Maiyaki, acting Executive Secretary of the National Universities Commission, emphasized the need for innovative funding strategies and better monitoring for project quality. Princes Miriam Onuoha, Chair of the House Committee on TETFund, highlighted inclusivity for Persons Living With Disabilities in infrastructure planning.
Prof. Peter Okebukola, former Executive Secretary of NUC, suggested strategies for improvement. He recommended supporting top-rated lecturers from overseas universities to join local postgraduate training and urged investment in state-of-the-art facilities for local universities instead of excessive spending on foreign training.
These discussions aim to address challenges and enhance the effectiveness of TETFund’s scholarship and intervention programs.