TERTIARY EDUCATION TRUST FUND (TETFUND) FRAMEWORK FOR FUNDING OF TERTIARY EDUCATION IN NIGERIA

Abstract

Aside the global  economic recession   ravaging   the  Nigerian   economy at  the  moment,   other  factors  like  declining government  revenue  from  the  oil  sector  which  Nigeria  depends  on,  misappropriation  of economic resources, decreasing revenue from non-oil sectors due to neglect and increasing rate of corruption in all sectors of the Nigerian economy. All these have handicapped the Nigerian government in generating sufficient resources to fund tertiary education in the country (Jaja 2013). As a result of this, there is the need for management of tertiary education to generate revenue internally so as to supplement government subventions. Against this backdrop, this paper examined the concept of tertiary education fund. The paper equally looked at tertiary education n in Nigeria and tertiary education trust fund policy as an intervention agency. Furthermore, the paper highlighted the principal activities of TETFund. Moreover, the paper discussed the TETFund framework for tertiary education in Nigeria