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FG Releases N6b to Varsities From Juliana Taiwo in Abuja The Minister of Education, Professor Fabian Osuji has said that the Federal Government has so far released N6 billion to the nation's universities for their capital projects out of the N12.38 b capital allocation appropriated for the universities this year. Osuji disclosed this at the inauguration of the Centralised Resident Due Process teams of Federal universities yesterday in Abuja that a similar allocations have already been implemented for the Federal Polytechnics and Colleges of Education. Osuji stated that the overall goal of the exercise is to ensure that the Ministry achieves 100 per cent utilization of appropriated funds within the present framework of due process. The Minister also disclosed that between 1994 and 2001, the total capital grant to Federal University system was N13.25 billion but no capital release was made in 2002 and 2003. "However, for 2004 alone, Government appropriated the sum of N12.38 b for execution of capital projects in our universities. So far, the initiative has saved government considerable sums (N90 billion) of money through a most competitive system of procurement. This is aimed at harmonising contract administration in all public institutions in line with government policy. He said it is hoped that incorporating this policy would ensure transparency and accountability in the useage of public funds. "The new policy regulations allow the Vice Chancellor to procure goods and services up the limit of N700,000 through selective tendering. Above N700,000 and up to N20 million, the Resident Due Process team of the University is empowered to issue certificates after normal tendering processes have been duly observed. "Above N20 million to N50 million, the responsibility for issuing Due process certificates rest with the Ministerial Tenders Board of Ministry of Education. "For Projects above N50 million, the Budget Monitoring and Price Intelligence Unit (MBPIU) shall be referred to the Federal Executive Council for the Award through the Minister of Education", he said. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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