NIGERIA - President Muhammadu Buhari Monday approved the immediate release of N22.68 billion as retirement benefits of ex-workers of the Nigeria Airways limited (in liquidation) and N20 billion as Academic Staff Union of Universities (ASUU)’s request for revitalisation fund of public universities, Minister of Finance, Zainab Ahmed.
Regarding funding measures for
the revitalisation of public iniversities, she added, ASUU signed a Memoradum of Understanding (MOU) with the Federal Government sometimes in 2013 on the terms and conditions on which the government would improve funding for staff welfare and provision of critical infrastructure.
"However, the implementation of this bilateral agreement has had certain challenges due to revenue shortages and other reasons.
"Buhari, in his determination to revitalise public Universities and ensure smooth running of the tertiary education system, has approved the sum of N20 billion for immediate release for public universities through the revitalisation scheme.
"These funds will be released to beneficiary universities in line with the established criteria used by the National Universities..."
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