Reps probe non release of N1.1trn federal varsities intervention fund

 

THE House of Representatives on Thursday resolved to investigate the non-release of the balance of N1.1 trillion National Economic Empowerment Strategy (NEEDS) intervention funds to federal universities in the country.

 

The House then mandated its Committee on Tertiary Education and Services, to investigate the matter, and report back within four weeks.

The House resolution followed a sponsored by Honourable Samuel Ikon entitled, “nonrelease of National Economic Empowerment and Development Strategy, NEEDS assessment intervention fund and the consequences on the nation’s educational development”.

According to him, “between December 2011- January 2012, academic activities at the public universities were suspended owing to the non-implementation of the 2009 agreement between the federal government and the Academic Staff Union of Universities (ASUU)”.

He added that in a bid to nip in the bud a re-occurrence, the federal government set up a committee on NEEDS assessment of public universities with a view to carefully consider specific and general needs of those universities.

To this end, he said that ” the Federal government, at a meeting with the Nigerian Labour Congress, NLC, the Trade Union Congress, TUC and the Academic Staff Union of Universities, ASUU on the need to revitalise public universities, resolved to release the sum of N1.3 trillion annual budgetary allocations and regular Tertiary Education Trust Fund, TETFUND intervention to be disbursed” from 2013 to 2018.

He listed the disbursement schedule as N200 billion for 2013, and N220 billion each for 2014, 2015, 2016, 2017 and 2018, saying that “till date, only the initial N200 billion had been paid, leaving the balance of N1.1 trillion yet to be released”.

He noted that besides the intervention funds, the federal government also agreed to release the sum of N55 billion on quarterly basis into a dedicated account at the Central Bank of Nigeria (CBN), for the NEEDS Assessment projects, all in a bid to nip in the bud, the recurrence of industrial actions in the universities.

“The failure to release the funds as, and when due has hampered the infrastructural development of public universities and may further disrupt the smooth academic programmes at the universities if not quickly addressed”, he said.

The motion was passed when it was put to a voice vote by the Deputy Speaker, Honourable Lasun Yusuf who presided over the session.