House of Reps Reveals ₦500 Billion in Unclaimed TETFUND Allocations, Promises Solutions

The House of Representatives Committee on TETFUND and Other Services has revealed that over ₦500 billion allocated to tertiary institutions across Nigeria remains unclaimed. This disclosure was made by the committee’s chairperson, Miriam Odinakachukwu Onuoha, during a courtesy visit to Governor Alex Otti of Abia State in Umuahia.
Onuoha highlighted that the significant accumulation of unutilized funds stems from various reasons, including stringent conditions set by the Tertiary Education Trust Fund (TETFUND). To address these issues, the House has created a dedicated Standing Committee on TETFUND to ensure improved accountability and optimal utilization of funds by beneficiary institutions.
During her remarks, Onuoha stated that the committee, during its oversight visit to TETFUND on May 30, 2024, uncovered the staggering amount of unclaimed funds. The committee has since been consulting with states and institutions to understand the causes of the stalemate.
“The funds yet to be utilized amount to over ₦500 billion allocated to beneficiary tertiary institutions,” she said. “We found divergent reasons for this accumulation, and we are working to resolve the issues in collaboration with the affected states and institutions.”
Onuoha noted that Abia State is among the states with a significant amount of unclaimed TETFUND allocations. However, she assured that the committee would work with the state government and its tertiary institutions to ensure that the funds are accessed and utilized effectively to support educational development.
In response, Governor Alex Otti emphasized his administration’s commitment to reclaiming the unaccessed funds for Abia State. He described the situation as an opportunity to address the long-standing challenges in the state’s education sector.
“Education is a critical priority for my administration,” Otti said. “We have allocated 20% of the 2024 Abia budget to education to bring the sector to acceptable standards. We will do everything possible to ensure that funds meant for Abia are accessed and used to fix the ruins in our education system.”
Otti acknowledged the support of the House Committee and pledged to work closely with TETFUND and other relevant agencies to meet the requirements for accessing the funds.
The House Committee’s efforts to relax some of TETFUND’s stringent conditions provide an opportunity for beneficiary institutions to claim their allocations. Onuoha reiterated the importance of engaging with all stakeholders to ensure that these funds, meant to improve the quality of tertiary education, are utilized effectively.
The collaboration between the House Committee, state governments, and TETFUND aims to eliminate barriers preventing access to the funds, thereby fostering the development of Nigeria’s tertiary education system.