In a significant policy shift aimed at strengthening Nigeria’s tertiary education system, the Tertiary Education Trust Fund (TETFund) has announced it is re-channelling funds previously earmarked for its foreign scholarship programme to finance key projects and build academic capacity within Nigerian universities. The Chairman of the TETFund Board of Trustees, Rt. Hon. Aminu Bello Masari, has been a key voice in reinforcing this new direction.

The move, which took effect on January 1, 2025, was driven by a combination of factors, including the high cost of overseas training, the adverse effects of foreign exchange volatility, and a rising number of scholars who fail to return to the country after completing their studies.

According to statements by TETFund’s Executive Secretary, Arc. Sonny Echono, the cost of sponsoring a single scholar abroad had become unsustainable, with some cases reportedly costing up to N100 million due to currency depreciation. This financial burden, coupled with the “unpatriotic” abscondment of beneficiaries, prompted the Board of Trustees, under Masari’s leadership, to suspend the foreign component of the TETFund Scholarship for Academic Staff (TSAS) Intervention.

Speaking at recent events, including the commissioning of projects at the Federal University of Technology, Babura (FUTB), and Akwa Ibom State University (AKSU), Masari reiterated the Fund’s commitment to its new mandate. He highlighted that the redirected funds would now be used to address critical national needs, such as the alarming shortage of healthcare professionals. A dedicated N110 billion has been allocated over a five-year period to train medical personnel and deploy advanced simulation technologies in local institutions.

“The investment in our local institutions will span five years as part of a broader effort to revitalize the health sector, strengthen medical education, reduce medical tourism, and stem the exodus of health professionals abroad,” Masari stated.

The redirection of resources is also expected to significantly increase the number of beneficiaries of TETFund’s interventions, as the cost of training one person abroad could be used to train eight to ten people locally. The policy is seen as a deliberate step to empower local institutions and foster a sustainable, self-reliant higher education system that contributes directly to national development.

While the Academic Staff Union of Universities (ASUU) has reportedly supported the policy, viewing it as a measure to boost local institutions, some critics have raised concerns that it may limit the exposure of Nigerian academics to international research and academic ecosystems.

Nonetheless, TETFund’s new focus, in line with President Bola Tinubu’s ‘Renewed Hope’ agenda, is poised to create a more robust educational foundation within the country, ensuring that Nigeria’s academic institutions become active contributors to national growth and development.