The Tertiary Education Trust Fund, TETFund, has committed over N8 billion to Rufus Giwa Polytechnic, Owo, Ondo State, for various intervention projects aimed at boosting teaching and learning over the years.
A member of the TETFund Board of Trustees representing the South-West Zone, Rt. Hon. Sunday Adeyemi Adepoju, disclosed this over the weekend in Owo while commissioning five landmark projects valued at N1.72 billion.
Adepoju commended both past and present management of the Polytechnic for their diligence in implementing TETFund-sponsored projects, noting that no abandoned or distressed projects currently exist on the campus.
He, however, cautioned state governments against the proliferation of tertiary institutions without adequate funding capacity, stressing that TETFund’s role is interventionist, not substitutive.
“We are assembled here today for the commissioning of five iconic projects sponsored by TETFund, whose total cost is N1,725,730,426.38.
“From the inception of TETFund interventions to this Polytechnic, the Fund has allocated N8,186,776,383.10 for infrastructure-based projects. Out of this, N5,576,638,910.74 has been accessed, leaving a balance of N2,610,137,472.37, most of which are already committed,” he said.
Adepoju reaffirmed the Board’s commitment to ensuring that no TETFund project is abandoned, noting that recent allocations were approved to help institutions complete distressed projects across the country.
“Our resolve as a Fund is to sustain and improve our interventions so that institutions can undertake more impactful projects and position themselves competitively both nationally and globally,” he added.
Also speaking, the Executive Secretary of TETFund, Arc. Sonny Echono, represented by the Director of Monitoring and Evaluation, Arc. Babatunde Olajide, said the completion of projects in Owo reflects the shared commitment to advancing tertiary education in Nigeria.
Echono, who congratulated the Polytechnic on its combined convocation ceremony for 12 graduating sets, 12th to 23rd, acknowledged that current economic realities have slowed project delivery due to volatile market conditions.
He, however, praised institutions that have demonstrated resilience, prudence, and effective project management despite the challenges.
“Through the dexterity and humaneness of the Board, meetings were recently held to assist institutions facing difficulties in completing projects. This effort is already yielding results.
“As a Fund, we will continue to support the Renewed Hope Agenda of President Bola Ahmed Tinubu by delivering interventions that enhance teaching, learning, research, and technical skills development,” he said.
The event was also attended by the Director of Public Affairs, Alhaji Abdulmumuni Oniyangi, the Director, Executive Secretary’s Office, Engr Tunde Olakunri, Dr. Olushola Ojo, representing the South-West Zonal Office of TETFund, and Dr. Abosede Bello from the Physical Infrastructure Department, among others.
