TETFund Executive Secretary Outlines Expectations for Beneficiary Institutions

The Executive Secretary of the Tertiary Education Trust Fund (TETFund), Mr. Sonny Echono, has articulated the agency's expectations from the heads of beneficiary institutions, emphasizing the importance of quality and timely project delivery. Speaking at a retreat for the Board of Trustees in Lagos, Echono highlighted that meeting these expectations is crucial for transforming institutions into globally competitive entities.

Echono stressed the need for institutions to uphold high standards in managing TETFund resources. He stated, "They must manage the resources given to them well and be efficient in planning, accessing, and managing the funds." He further urged heads of higher institutions to ensure prompt dealings with contractors to prevent delays caused by inflation, advocating for improved supervision mechanisms and optimal project quality.

He also encouraged institutions to leverage opportunities in research, innovation, and entrepreneurship, aiming to enhance their revenue generation capabilities and reduce dependency on external funding.

Addressing the additional responsibilities TETFund has taken on, including its role in the Student Loan Scheme, Echono reassured stakeholders that the agency is prepared to manage these new challenges. With an increase in the Education Tax to three percent, he affirmed TETFund's commitment to efficient resource management and timely revenue collection.

The Chairman of the Board of Trustees, Rt. Hon. Aminu Masari, emphasized the board's dedication to advancing higher education in Nigeria. He urged members to utilize their experience for the betterment of the educational landscape and highlighted the importance of collaboration between the board and TETFund management.

In a related presentation, Prof. Abubakar Rasheed, former Executive Secretary of the National Universities Commission (NUC), discussed the critical role of the Board of Trustees in shaping the future of tertiary education in Nigeria. He underscored TETFund's essential support for public tertiary institutions, stating, "Without TETFund, many public tertiary education institutions would find it difficult to function effectively."

As TETFund moves forward, its leadership remains focused on maximizing the impact of its initiatives to enhance the quality of education across Nigeria.