The Federal Government has approved N470 billion naira Special Fund in the 2023 budget for university revitalisation and upward adjustment of lecturers’ salaries.
This was made known by the Minister of Finance, Zainab Ahmed at a briefing in Abuja.
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The Minister explained that the sum was specially provided in the 2.05 trillion naira allocated to education. She says out of the 470 billion naira, the sum of N300bn is for university revitalisation and N170bn for upward adjustments of the university lecturers’ salaries.
According to the Finance Minister, 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.
Members of the Academic Staff Union of Universities recently suspended their eight-month strike over the upward review of lecturers’ welfare, amongst others.
