Federal Government allocates N3.8 billion to aid stranded Nigerian scholars abroad

The Federal Government has disclosed that it disbursed the sum of N3.8 billion to stranded Nigerian scholars abroad in recent years. Sonny Echono, the Executive Secretary of the Tertiary Education Trust Fund (TETFund), revealed this on Thursday in Abuja during a meeting with the House of Representatives Committee on TETFund.

Echono explained that the Fund has supported 1,500 scholars with a total of N3.8 billion. Addressing concerns about delays in scholarship payments, he attributed the issue to the recent rise in foreign exchange rates, which affected scholars in countries like the United Kingdom, Malaysia, and others.

“These concerns were brought to the attention of various government bodies including the National Assembly, the Presidential Villa, the Ministry of Education, and TETFund,” Echono stated. “We were pleased with the positive response, which led to securing the President’s approval for what we termed a bail-out or assistance.”

He acknowledged challenges in the past regarding funding disbursement, noting that institutions often faced delays in processing transfers to the central bank. To address this, TETFund now directly pays institutions as part of its intervention strategy.

Echono highlighted improvements in Nigeria’s performance in research grants, noting that the country has moved from the 9th to the 7th position in African research grants.

“Previously, Nigeria faced challenges in securing research grants, but efforts have been made to enhance our standing,” Echono remarked.

The disclosure by TETFund underscores the government’s commitment to supporting Nigerian scholars abroad and improving research capabilities within the country.