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Published On: Wed, Mar 19th, 2014

Economic Summit: FG wants 45-year old education policy reviewed

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By Clem Khena-Ogbena

The Federal Government yesterday challenged the National Economic Summit Group (NESG), to review the policy foundation of Nigeria’s education sector developed in 1969 to meet current realities.

President Goodluck Ebele Jonathan gave this charge at the opening ceremony of the 20th Nigeria Economic Summit.

The President, who spoke through Vice President Arc Mohammed Namadi Sambo, said: “More than forty years after, this policy foundation is ripe for review, to determine its relevance and fine tune its

adaptability to national objectives, in this 21st Century.

In his remarks, the Supervising Minister of Education, Mr. Nyesom Wike, stated that the federal government had invested N144.7 billion in basic education between 2009 and 2013. He added the money was given as grants to states to assist them in funding basic education.

The minister also said that through the Tertiary Education Trust Fund, the sum of N268.484bn was allocated to the universities of which N233.33billion had been accessed, while the balance of N35.154billion had not been accessed.

For the polytechnics, he said N129.33billion was allocated of which N116.99billion had been accessed, while the balance of N12.343billion was yet to be accessed.

For the colleges of education, Wike said that the sum of N124.38billion was allocated. Of this amount, he said N106.25billion was accessed, while N18.14billion was yet to be accessed by the beneficiaries.

In addition to the funds released through TET fund, the minister said a total of N94.129billion had been released to Federal Universities, through the National University Commission for capital, direct

teaching and laboratory cost, and teaching and research equipment.

On investment in basic education, he said that between 2009 and 2013, the federal government had invested N144.67billion as matching grants to states.

Of the amount invested, the minister said the sum of N98.80billion had been assessed by states, while N45.87billion was yet to be accessed.

 

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