FG Orders Varsities, Others To Publish Yearly Financial Reports From Q1
The Federal Government has directed all public universities, polytechnics, and colleges of education to publicly submit their financial statements and academic performance data beginning in the first quarter of each year.
The government also stated public universities would not be shut again over labour disputes, declaring that it would do “everything humanly possible” to prevent further strikes by the Academic Staff Union of Universities (ASUU), even as it disclosed that the government had unveiled an extensive initiative to overhaul the procurement process in the country’s education sector and ensure that all tertiary institutions are linked to high-speed broadband through the Nigerian Research and Education Network (NG-REN) by 2026.
The government warned that institutions that failed to comply with this directive to publish yearly financial reports risk losing access to Tertiary Education Trust Fund (TETFund) interventions.
The Minister of Education, Dr Tunji Alausa, stated this yesterday in Abuja while unveiling the Tertiary Institution Governance and Transparency Platform (FTIGTP), a landmark initiative aimed at strengthening transparency, accountability, and data-driven decision-making across Nigeria’s tertiary education system.
According to the minister, financial reporting through the platform will form part of institutional performance evaluations by both local and international partners, stressing that funding and interventions will increasingly be tied to transparency and accountability metrics, adding that institutions must also obtain a clearance certificate from the Director of Information Communication Technology (ICT) before accessing any TETFund ICT intervention.
He noted that the platform was in line with President Bola Tinubu’s commitment to promoting good governance and accountability across public institutions.
In his remarks, the Chairman, Committee of Vice Chancellors of Nigerian Universities (CVCNU), Prof. Tanko Ishaya, commended the Federal Government for the initiative, describing the platform as a bold and timely initiative that aligns with global best practices in university governance.
While assuring that public universities would not be shut again over labour disputes, Alausa told State House correspondents that President Bola Tinubu had given a clear mandate to keep students in school and pursue transparent, data-driven reforms across the tertiary education sector.
“The President has mandated us that he doesn’t want ASUU to go on strike. We are doing everything possible to ensure our students stay in school,” he said
Alausa said he had earlier briefed the President on ongoing talks with the union and secured further concessions to fast-track a peaceful resolution.
The minister said the administration was committed to deepening accountability in tertiary institutions, anchoring reforms on what he called “evidence-based governance.”
Alausa, also at a joint meeting yesterday in Abuja with the Bureau of Public Procurement (BPP), urged heads of federal tertiary institutions, bursars, procurement directors, and heads of education agencies to overhaul the procurement process in the country’s education sector and ensure that all tertiary institutions are linked to high-speed broadband through the Nigerian Research and Education Network (NG-REN) by 2026.
He explained that the initiatives form part of the Federal Government’s broader strategy to enhance transparency, efficiency, and digital accessibility throughout the country’s education system.
Source: GUARDIAN
