President Muhammadu Buhari has presented the proposed 2023 budget proposal to the National Assembly.
In the N20.5 trillion appropriation bill, the president said the government is earmarking N470 billion for the revitalisation of tertiary education in the country.
The president presented the budget proposal at a joint session of the National Assembly on Friday in Abuja.
During his presentation, he said “The government notes with dismay the crisis that has paralysed activities in the public universities in the country.
“We expect the staff of these institutions to show a better appreciation of the current state of affairs in the country.
“In the determined effort to resolve the issue, we have provided a total of N470 billion in the 2023 budget from our constrained resources, for revitalisation and salary enhancements in the tertiary institutions.
“It is instructive to note that government alone cannot provide the resources required for funding tertiary education.
“In most countries, the cost of education is jointly shared between the government and the people, especially at the tertiary level.
“It is imperative therefore that we introduce a more sustainable model of funding tertiary education.”
Buhari said his administration remains committed to the implementation of agreements reached with staff unions within available resources.
“This is why we have remained resolute that we will not sign any agreement that we would be unable to implement,” Mr Buhari added.
“Individual institutions would be encouraged to keep faith with any agreement reached in due course to ensure stability in the educational sector.
“Government is equally committed to improving the quality of education at other levels. Recently, we implemented various incentives aimed at motivating and enhancing teachers’ development in our schools.”
The president also added that the government intends to focus attention on equipping existing hospitals and rehabilitating infrastructure.
The summary of the budget shows that the government is projecting N11.09 trillion as revenue; N6.31 trillion for debt servicing; N5.35 trillion for capital expenditure while recurrent expenditure (non-debt) is N8.27 trillion and N10.8 trillion as the deficit.
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