The Federal Government says it has provided N470 billion special fund for university revitalisation and upward adjustment of lecturers’ salaries.
The Minister of Finance, Zainab Ahmed, who made this known at a briefing in Abuja on Wednesday, explained that the sum is already captured in the education vote of 2023 budget.
According to her, the sum of N300 billion is for university revitalization, while N170 billion is for upward adjustments of the university lecturers’ salaries.
Persecondnews recalls that members of the Academic Staff Union of Universities (ASUU) had last week called-off their eight-month strike over lecturers welfare, revitalization of public universities, among others.
Ahmed disclosed that the draft 2023 budget has been prepared against the background of international challenges such as the Russia-Ukraine war and COVID-19 pandemic, adding that revenue generation has been a major challenge to national development in the country.
On the allocations for critical sectors, she said the sum of N2.05 trillion is allocated to education and N1.58 trillion for health.
The minister also disclosed that N2.74 trillion is allocated to defence ministry while security and infrastructure got N998.9 billion.
Similarly, social development and poverty reduction got N756 billion.
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