TETFund Laments N6bn Shortfall Despite .5% Increase in Revenue


Kuni Tyessi in Abuja

The Tertiary Education Trust Fund (TETFund) has acknowledged that it experienced a shortfall of N68 billion in its revenue collection in 2021 for its operations in the 2022 fiscal year.

The Executive Secretary of the TETFund, Mr. Sonny Echono, disclosed this at a one-day meeting of the heads of beneficial institutions in public tertiary institutions with the TETFund.

Echono said that the revenue collection of the fund had dropped from N257 billion to N189 billion, adding that the drop in revenue amounted to N68 billion.

He, therefore, said that in spite of the drop, the fund was able to move from the N189 billion in 2021 to over N300 billion in 2022, adding that the increase in collection was expected to increase disbursement to beneficiary institutions in 2023.

“Our collections yield to our disbursement to you. We received N257billion in 2021 to only N189 billion which is a deficit, or shortfall, of N68 billion in revenue and this has…

Source: Thisday Newspaper