Sonny Echono, executive secretary of the Tertiary Education Trust Fund (TETFUND), has proposed the implementation of tuition fees at federal universities for sustainability.
Echono spoke in Abuja during an education sector conference themed: ‘Funding for Tertiary Education in Nigeria’. Federal universities have long maintained a tuition-free policy, guaranteeing tertiary education for the wards of low-income Nigerians.
They receive funding from the government in the form of annual budgetary allocations for salaries, capital expenditure, and running costs. Echono said the federal government should no longer be the only funding source of higher education in the country.
He said the inability of the government to solely finance tertiary education necessitates that the institutions be given the leverage to explore alternative funding. “It is worth repeating that considering the circumstances surrounding the funding of higher education in Nigeria today, the government alone cannot be the sole source of financing for education,” Echono said.
“Cost-sharing, to enable parents and the students who are primary beneficiaries to contribute to the funding of the system through the payment of tuition fees, to complement government subvention to the institution. It is also instructive to state that some institutions owned by state governments have already started implementing this initiative.”
Echono advocated for the implementation of the student loan scheme. “The interest-free loan with a moratorium will provide an avenue for a growing number of students to access loans at affordable rates to pay their fees and support their education."
“The significance of the student loan scheme, which targets the primary beneficiary of education, is that it shifts the burden of payment by the student to after graduation when the graduate is able to earn and repay the loan.”
He added that tertiary institutions should explore partnerships and collaborations with funding agencies and development partners — locally and internationally — to attract support and resources.
Friday, 10 May 2024 17:09
"Introduce Tuition Fees In Federal Universities" - TETFUND executive secretary
Join us on Whatsapp Channel Subscribe to Telegram Channel
Follow @abatimediaHeadlines
- Nothing In Katsina Shows Buhari Was President For Eight Years – Usman Yusuf
- ‘I won’t marry man who can’t afford to hire cook, cleaner’ – BBNaija Doyin
- DJ Cuppy’s mum prays for her to find ‘true love’
- Peter Obi’s Only Chance To Presidency Is 2039 – Bwala
- FG Begins Housing Construction In Four States
- Obidients Create Harmonization Committee Ahead Of 2027 Elections
- Physically Challenged Nigerian Man Faces Deportation After Living In UK For 38 Years
- Peter Obi Visits Victims Of Kano Mosque Explosion
- Anxiety Mounts As Tinubu Set To Review Ministers’ Performance
- Dangote’s Petrol Supply Expected To Slash Nigeria’s ₦6 Trillion Fuel Import Bill
- Caroline Danjuma Threatens Legal Action Against Oritsefemi
- One student dies as fire guts Anambra seminary school
- NLC unaware of LP merger talks ahead 2027 — Ajaero
- ‘Go and bring husband to daddy o’ - Ooni of Ife tells his daughter as she turns 30
- CBN withdraws circular on cybersecurity levy
- Nigerian pastor narrates how he "snatched" his wife from her boyfriend
- Police rescue two toddlers locked up in Lagos apartment
- Man stabs friend to death over N2500 debt in Lagos
- Germany Working To Improve Visa Process For Nigerian Students — Envoy
- Multiple taxes threaten gains of manufacturers in AfCFTA — MAN