The Federal Government has directed universities and other tertiary institutions to submit reconciled reports of all intervention funds from the Tertiary Education Trust Fund (TETFund) that remain unutilised within the next 30 days.
Minister of Education, Dr Olatunji Alausa, who gave the directive on Thursday in Abuja, also warned that henceforth there would be quarterly reviews to track progress and compliance, with sanctions for institutions that fail to utilise funds effectively.
Alausa spoke at a meeting with heads of the beneficiary tertiary institutions, bursars, and procurement directors on unutilised balances in TETFund allocations.
He underscored the seriousness with which the government is determined to address the persistent challenge of utilised funds and ensure that public resources allocated for education yield their maximum intended impact.
Alausa lamented that resources that could have been used to develop infrastructure in institutions have remained idle due to bottlenecks.
‘TETFund plays a pivotal role as the vehicle through which the Federal Government channels support to our universities, polytechnics, and colleges of education.
‘However, one recurring challenge that has continued to undermine this investment is the existence of unutilised balances – funds released for specific projects or interventions that are either not deployed on time or not fully expended before new allocations are made.
‘Over time, these idle funds represent lost opportunities, resources that could have improved laboratories, classrooms, ICT facilities, research centres, faculty development, and more, but did not, due to process delays, weak absorptive capacity, or compliance and accountability gaps.
‘Institutions must submit reconciled reports of all unutilised funds within 30 days, which will be jointly verified. Unused funds may be redirected to priority projects, and carrying them over without strong justification will no longer be allowed. Procurement plans must align with approved interventions, and approvals should be fast-tracked to prevent delays,’ Alausa said.
The minister also announced that capacity-building programs would be introduced to strengthen project management, compliance, and reporting, alongside mentorship initiatives.
He added that transparency would be enhanced through a public dashboard showing disbursement and utilisation data, and institutions will be required to publish project progress reports.
Alausa also emphasised that the success of this initiative depends on strong collaboration among stakeholders.
He charged TETFund to lead with professionalism, enforce compliance, and ensure transparency, stressing that institutional heads should drive urgency and accountability, while bursars, procurement officers, and project coordinators must plan and report diligently.
‘Auditors and oversight bodies are expected to monitor activities and flag irregularities. All stakeholders must uphold a sense of stewardship, recognising that every TETFund naira represents public trust,’ Alausa said.