*Commissions N1.72 Billion Iconic Projects
Tertiary Education Trust Fund (TETFund) has committed over N8billion to Rufus Giwa Polytechnic, Owo.
This is direct allocation for various interventions over the years.
This was disclosed at the weekend by TETFund Board of Trustees Member representing the South-West Zone, Rt. Hon. Sunday Adeyemi Adepoju. in Owo, Ondo State,
It has also commissioned five projects valued at N1.72 billion.
Hon. Adepoju while noting the diligence of past and present management of the Polytechnic in executing TETFund sponsored projects, lauded them for having no abandoned or distressed projects within the campus of the Polytechnic.
He however warned against proliferation of state owned tertiary institutions by State Governments who are not prepared to fund such institution, pointing out that TETFund cannot do everything since it is an interventionist agency of the Federal Government charged with cushioning effect of the gap in funding and not carry the whole responsibility.
According to him, “we are assembled here today for the commissioning of Five (5) iconic projects sponsored by TETFund, whose total cost is N1,725,730,426.38. You may wish to know also that from the start of TETFund interventions to this polytechnic, the Fund has allocated a total of N8,186,776,383.10 for infrastructure-based projects only. Out of this, a total of N5,576,638,910.74 have been accessed, leaving a balance of N2,610,137,472.37 most of which are already committed”
“As a Board, we are resolutely committed to ensuring that no projects of the Fund are abandoned, and this is why, in very recent time, the Board approved allocations to enable beneficiary institutions with distressed projects complete their projects without further delays. We are quite confident that with the augmentations granted by the Board of Trustees, those challenged projects will be completed for utilization by students and other stakeholders in the affected institutions.
“Our resolve as a Fund is to ensure that our interventions are sustained and improved upon as much as possible to enable our institutions undertake bigger, and more laudable and impactful projects that will make them become globally competitive and situate themselves in enviable positions among their peers both nationally and globally. We shall continually engage with our beneficiary institutions towards ensuring the delivery of iconic and impactful intervention projects in subsequent intervention years” he added.
Also speaking, the Executive Secretary of TETFund, Arc. Sonny S.T. Echono who was represented by Director of Monitoring and Evaluation, Arc. Babatunde Olajide reiterated that the completion of any TETFund project is a testament to the shared commitment of advancing tertiary education in Nigeria and ensuring that our institutions are well positioned to deliver quality teaching. learning and research in conducive environments.
Seizing the opportunity to felicitate with the Polytechnic on the combined Convocation of Twelve sets of graduates from the 12th to 23rd sets, the Executive Secretary noted that the current times in our nation's economy have negatively impacted early delivery of projects in view of the volatility in market forces that have compelled institutions to seek reviews to their contracts.
While acknowledging this challenge, the TETFund scribe applauded institutions who, in the prevailing circumstance, have been resilient and focussed in delivering their projects while ensuring frugality and effective project management as they navigate around the challenge.
“I am pleased to commend the effort of the TETFund Board of Trustees who saw the earlier highlighted challenge and approved some allocations to assist institutions struggling with the completion of their projects. Recently, through the dexterity and humaneness of the Board, meetings were held in the past few weeks to listen to beneficiaries with challenging problems of completion of their projects, with a view to jointly work out solutions to completing them.
“This effort is already beginning to yield fruit. As a Fund we will continue to give vent to the "Renewed Hope Agenda of the President Bola Ahmed Tinubu administration by being innovative and delivering interventions that will strongly impact on teaching. learning and research and supporting every effort at training students and equipping them with requisite skills to meet the technical manpower demands of these contemporary times” Arc. Echono added
Part of the team from TETFund during the commissioning of the projects include Alhaji Abdulmumuni Oniyangi, Director, Public Affairs, Engr. Tunde Olakunri, Director, Executive Secretary’s Office, Dr. Olushola Ojo who represented the South-West Zonal Office of TETFund, Dr. Abosede Bello from the Physical Infrastructure Department among others.