Minister of Finance, Zainab Ahmed has disclosed that the Federal Government has provided N470bn Special Fund in the 2023 budget to revitalise universities and upgrade lecturers’ pay.
According to Mrs. Ahmed who was speaking during the defence of her ministry budget before the Senate budget commitee in Abuja, said the sum of N300bn is for university revitalisation and N170bn for upward adjustments of the university lecturers’ salaries.
She said 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. She added that N2.05 trillion has been allocated to education and N1.58 trillion to health.
Defence and security will get N2.74 trillion , while infrastructure will get N998.9 billion and social development and poverty reduction will be N756 billion.
