Federal Government has provided N470bn Special Fund in the 2023 budget for university revitalization and upward adjustment of lecturers’ salaries.
The Minister of Finance, Zainab Ahmed, who made this known at a briefing in Abuja on Wednesday, said the sum was specially provided in the allocation to education for upward adjustment of salaries for university lecturers and revitalization of universities.
Zainab Ahmed explained that the sum of N300bn was meant for university revitalization and N170bn for upward adjustments of the university lecturers’ salaries.
According to her, the draft 2023 budget has been prepared on the background of international challenges such as the Russia-Ukraine war and the COVID-19 pandemic, adding that revenue generation has been a major challenge to national development in the country.
Members of the Academic Staff Union of Universities (ASUU) recently suspended their eight-month strike over the upward review of lecturers’ welfare, amongst others.
