The Federal Government has set N470 billion in the 2023 budget for university revitalization and salary increases for lecturers.
At a press conference in Abuja on Wednesday, Finance Minister Zainab Ahmed stated that the funds were specifically allocated to education for salary increases for university lecturers and university revitalization.
N300 billion is set aside for university revitalization, while N170 billion is set aside for salary increases for university faculty.
According to her, the draft 2026 budget was created in the context of global issues such as the Russia-Ukraine war and the COVID-19 epidemic. She added that revenue generation has been a major challenge to the country’s national development.
She stated that 2.05 trillion naira had been set aside for education and 1.58 trillion naira had been set aside for health.
She also stated that 2.74 trillion naira is set aside for defense and security, 998.9 billion naira for infrastructure, and 756 billion naira for social development and poverty alleviation.
Academic Staff Union of Universities (ASUU) members recently suspended their eight-month strike over, among other things, an upward review of lecturers’ welfare.
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Conclusion
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