The first three Universities in Nigeria which will receive the most funds from the 2023 budget is University of Nigeria Nsukka, Ahmadu Bello University, Zariaand the University of Lagos.
This is exposed in the overall expenditure breakdown released by the Presidency after President Muhammadu Buhari presented the N20.5 trillion budget on Friday.
the The total allocation of FG to the Ministry of Education is N1,078,421,185,229, with a staff cost of N706,485,320,329, while the National Universities Commission (NUC) was allocated a total of N30,058,742,866.
University funding ranking:
According to reports The University of Nigeria, Nsukka is expected to receive the highest allocation of N29.3 billion
Ahmadu Bello University will receive N25.8 billion.
The University of Lagos was allocated N22.3 billion
Some universities are funded as follows:
- University of Calabar: N21.5 billion
- University of Ibadan: N19.2 billion
- University of Benin: N19.5 billion
- University of Ilorin: N18.1 billion
- Obafemi Awolowo University: N16.3 billion.
- Nnamdi Azikiwe University, Awka: N18.3 billion
- University of Jos: N14.2 billion.
Meanwhile, under the heading, Federal University of Technology, Owerri has the highest allocation of N14.3 billion, followed by Akure with N8.4 billion and Minna with N7.2 billion.
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The Nigeria Open University is allocated a total budget of N10.7 billion.
What you should know
President Buhari while presenting the budget noted that The government alone cannot provide the resources needed for funding tertiary education.
“In most countries, the cost of education is shared between the government and the people, especially at the tertiary level.
“Therefore it is necessary that we introduce a more sustainable model of financing tertiary education.
He added that the FG is committed to implementing the agreements reached with the staff unions within the available resources.
“This is why we remain determined that we will not sign any agreement that we cannot implement. The respective institutions are encouraged to keep faith with any agreement reached in due course to ensure the stability of the education sector” he added.