The Federal Government has provided 470 billion naira Special Fund in the 2023 budget for university revitalisation and upward adjustment of lecturers’ salaries.
Minister of Finance, Zainab Ahmed, who made this known at a briefing in Abuja, explained that the sum was specially provided in the allocation to education for upward adjustment of salaries for university lecturers and revitalization of universities.
She explained that the sum of 300billion naira is for university revitalisation and 170billion naira 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 COVID-19 pandemic, adding that revenue generation has been a major challenge to national development in the country.
On the allocations for critical sectors, she said the sum of 2.05 trillion naira is allocated to education and 1.58 trillion naira for health.
She added that 2.74 trillion naira is allocated to defense and security, infrastructure got 998.9 billion naira while social development and poverty reduction has 756 billion naira.
