*Wants government to cut interference with varsities’ administration
By Maryam Abeeb
The Executive Secretary of Tertiary Education Trust Fund, TETfund, Arc Sonny Echono has called for the full implemention of the 2004 universities miscellaneous Act(Autonomy)
The ES made this call while making key recommendations during his presentation themed: Sustainable Funding of Tertiary Education in Nigeria” at the celebration of National University Commission, NUC @60 anniversary held in Abuja.
He explained that this, if implemented, will empower varsity councils
to take full charge of their operations and development.
According to him, government should also limit its role to overall policy framework, regulation and the creation/strengthening of institutions such as NUC, TETFund, Education Bank, Federal Scholarship Board and a Students Loans Board to address the multifaceted challenges of education.
“Government should re-define its role by allowing full implementation of the 2004 Universities Miscellaneous (Autonomy) Act which empowers University Councils to take full charge of their operations and development.
“Government should limit its role to overall policy framework, regulation and the creation/strengthening of institutions such as NUC, TETFund, Education Bank, Federal Scholarship Board and a Students Loans Board to address the multifaceted challenges of education.
According to him, where Government chooses to implement policies, such as the ill-advised free tuition policy, it should make full financial provisions for same as grant per student based on the costs of training for individual courses, established by University Governing Councils.
He enjoined the federal government to continue to provide scholarship and bursary for exceptionally gifted scholars and verifiable indigent students based on income levels of parents and other discernable criteria.
Echono added that dedicated funds should be provided for research and innovation to be accessed on strictly competitive bases.
He stated that “Decree No. 50 of 1993, established the Nigerian Education Bank but it hardly took-off due to policy summersaults and opposition from certain quarters.
” A resuscitation of the Bank will provide a pool of long-term concessionary funds to finance PPP projects in public tertiary institutions, fund critical infrastructure in private institutions, and it may also incorporate a student’s loans scheme for greater efficiency in loans amortization.
“It is instructive to note that currently, at least three (3) Banks, namely Access, First Bank and GTBank offer loans to Nigerian students to study either at home or abroad. The tenor and interest rates are unattractive hence the need for a moderating strategy.
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