FG Allocates N470 Billion For University Revitalisation, Lecturers' Salary Adjustment

The Federal Government has included N470 billion Special Fund in the 2023 budget for university revitalisation and upward adjustment of lecturers’ salaries.

The Minister of Finance, Budget and Planning, Zainab Ahmed, disclosed this at a briefing on Wednesday in Abuja, Channels Television reports.

According to Ahmed, the N470 billion comprises N300bn for university revitalisation and N170bn for upward adjustment of the university lecturers’ salaries.

The Minister noted the 2023 budget was prepared based on the effect of multinational challenges such as the COVID-19 pandemic and the Russia-Ukraine war which affected the revenue generation of the nation. 

Minister Ahmed further stated that the sum of N2.05 trillion was allocated to the education sector.

Lecturers under the aegis of the Academic Staff Union of Universities (ASUU) recently suspended their eight-month strike which they embarked on for treason including the revitalisation of universities and the improvement of lecturer's welfare.