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Last Updated: Monday, November 15th, 2004 HOME | Previous Page
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Govt sets revenue target for tertiary institutions
By Tom Chiahemen
Senior Correspondent, Abuja
The Federal Government has directed all public Universities, Polytechnics and Colleges of Education in the country
to strive to achieve at least 25% of budgeted funds as internally generated revenue in 2005.
Minister of Education, Prof. Fabian Osuji, gave the target in Abuja while briefing principal officers of the tertiary
institutions on the provisions of the 2005 federal budget presented to the National Assembly by President Olusegun
Obasanjo on October 12, 2004.
In the budget, he said, a total allocation of about N90 billion had been proposed for education, with an additional
N26 billon for the Universal Basic Education (UBE) programme. He described the figure, which is one of the highest
sectoral allocations as a confirmation of government�s commitment to consciously, consistently and systematically
repair the education sector after a long period of unfortunate neglect.
The minister said he was aware of consultations among the vice-chancellors, rectors and provosts on the issue of
full provision for personnel costs as critical stability, and assured that every effort would be made by government
to meet personnel costs of the institutions in 2005.
He, however, pointed out that while government would fully meet the personnel costs and provide substantial funds
for direct teaching and laboratory costs and overhead expenditures, each institution must design and execute projects
that can increase their internally generated revenue (IGR) to meet other critical needs.
Osuji further announced that the coordinating agencies National Universities Commission (NUC), National Board for
Technical Education (NBTE) and National Commission for Colleges of Education (NCCE), would strictly monitor the
utilisation of the internally generated revenue and commence a re-alignment of future access to facilities of government
based on some competitive instrument, including ingenuity in resource generation.
�I know that we are agreed that the time has passed when institutions must wait on government for every kobo they
need�, he told the heads of the 61 federal tertiary institutions.
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