By Gwurld4026 
Deadline Approaches: Financial Data Release for Tertiary Schools
In a move aimed at enhancing transparency and accountability within Nigeria’s higher education sector, the Federal Ministry of Education has directed all federal tertiary institutions to publish detailed financial and student data on their official websites by May 31, 2025.
Key Requirements:
- Annual Budgetary Allocations: Institutions are mandated to disclose their annual budgets, breaking down expenditures into personnel costs, overhead costs, and capital expenditures.
- Research Grants: Details of grants received from both domestic and international sources, including foreign institutions, multilateral organizations, and development partners, must be published.
- TETFund Allocations: Institutions are required to disclose the funds allocated to them by the Tertiary Education Trust Fund (TETFund), detailing how these funds support academic and infrastructural development.
- Endowment Funds: The total value of endowment funds, as recorded at the end of the previous year, should be updated quarterly on the institutions’ websites.
- Student Population: Institutions must provide data on their total student population, disaggregated into undergraduate and postgraduate levels.
Implementation and Compliance:
To ensure compliance, the Ministry will conduct regular audits of institutional websites and apply sanctions where necessary. The disclosed data must be presented in a clear, accessible, and user-friendly format to facilitate public understanding.
This initiative is part of broader efforts to restore public trust in Nigeria’s tertiary institutions, improve performance-based funding, and enhance the country’s standing in global education indices.