22 January 2013

Nigeria: AG Dismisses Private Varsities' Agitation for TETFUND

Lagos — Accountant-General of the Federation, Mr. Jonah Otunla, has dismissed agitations from private universities which want to benefit from the Tertiary Education Trust Fund, TETFUND.

He said that private universities are profit making ventures that do not need injection of public funds.

Delivering a lecture on "The impact of quality education on national development: where is funding situated" Otunla said: "As private ventures or enterprises, private universities depend on income generated through a variety of sources.

"These include tuition fees, contributions from a variety of sources and income from investments. A number of Nigerian private universities are still at the developmental stage with challenges of funds to expand their infrastructure."

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