The Federal Government has announced plans to inject an additional N30 billion over the next three years to stabilise and rehabilitate the country’s 74 federal universities, in addition to their annual budgetary allocations. The intervention, known as the Stabilisation and Restoration Fund, forms part of a newly signed agreement between the government and the Academic Staff Union of Universities (ASUU). Under the agreement, the fund will be disbursed in three equal instalments of N10 billion annually from 2026 to 2028 and will be managed by the National Universities Commission (NUC).
The agreement also outlines broader commitments to boost funding for education, including a gradual increase in the sector’s budgetary allocation by 2.5 per cent yearly to reach 15 per cent, in line with UNESCO recommendations. It further provides that 50 per cent of the education sector’s capital budget be allocated to universities, while maintaining the existing policy of non-payment of undergraduate tuition fees. Education experts have welcomed the initiative but cautioned that transparency, accountability and effective monitoring would be critical to ensuring the funds address infrastructure decay, improve learning facilities and strengthen research capacity, rather than offering only short-term relief.