According to President Muhammadu Buhari, the federal government allocated N470 billion in the 2023 budget for tertiary institution revitalization and pay increases.
When he delivered the N20.5 trillion 2023 Appropriations Bill to a joint session of the National Assembly, the President made this statement.
The budget is referred to as a “Budget of Fiscal Sustainability and Transition,” according to the News Agency of Nigeria (NAN).
Buhari said that the money came from limited resources and was intended to revive tertiary institutions and increase salaries.
“The Government observes with shock the crisis that has rendered the nation’s public universities completely inactive.
“We anticipate that the staff at these institutions will demonstrate a deeper understanding of the nation’s current situation.
“As part of our deliberate endeavor to find a solution, we have allocated a total of N470 billion in the 2023 budget from our limited resources for tertiary institution revitalization and pay increases.
It is essential to notice that the government is unable to provide the necessary money for tertiary education on its own.
“The cost of education is typically shared by the government and the general public, particularly at the tertiary level.
“Therefore, it is essential that we implement a more sustainable form of tertiary education funding.”
He said that, to the extent that resources permitted, the government remained dedicated to carrying out agreements struck with employee unions.
“For this reason, we have been adamant that we won’t sign any agreements we won’t be able to carry through.
“To ensure stability in the educational system, individual institutions would be encouraged to uphold their end of any agreement agreed in due order.
“The government shares a similar commitment to raising the standard of education at all levels. We have put into place a number of incentives designed to inspire and advance the professional growth of teachers in our schools.
Buhari stated that the administration intended to concentrate its efforts on rebuilding infrastructure and outfitting already-existing facilities in the health sector.
“Local manufacture of essential medications and vaccinations will also receive emphasis.
Our general policy emphasis is to increase our investment in education, health care, and social protection because human capital is the most important resource for national development.
Additionally, according to Buhari, the administration will continue to give women’s empowerment initiatives top priority across all MDAs in 2023.
