Tertiary Education Trust Fund (TETFund) of Nigeria



Education, Financial Services, Gender Equality and Empowerment of Women




01 - No Poverty, 02 - Zero Hunger, 04 - Quality Education

Organization Type






The Tertiary Education Trust Fund  (TETFund) was  originally established as Education Trust Fund (ETF) by the Act No 7 of 1993 as amended by Act No 40 of 1998 (now repealed and replaced with Tertiary Education Trust Fund  Act 2011). It is an intervention agency set up to provide supplementary support to all level of public tertiary institutions with the main objective of using funding alongside project management for the rehabilitation, restoration and consolidation of Tertiary Education in Nigeria.

The main source of income available to the Fund is the two percent education tax paid from the assessable profit of companies registered in Nigeria. The Federal Inland Revenue Services (FIRS) assesses collects the tax on behalf of the Fund.

The funds are disbursed for the general improvement of education in federal and state tertiary educations specifically for the provision or maintenance of:

  • Essential physical infrastructure for teaching and learning

  • Institutional material and equipment

  • Research and publications

  • Academic staff training and development and

  • Any other need which, in the opinion of the Board of Trustees, is critical and essential for the improvement and maintenance of standards in the higher educational institutions

The Fund  is managed by an eleven (11) member Board of Trustees with members drawn from the six geo-political zones of the country as well as representative of the Federal Ministry of Education, Federal Ministry of Finance and the Federal Inland Revenue Services.

The Board of Trustees has the following responsibilities as stated in the Act:

  • Monitoring and ensure collection of Tax by the Federal Inland Revenue Services and ensure transfer to the Fund

  • Manage and disburse the Tax

  • Liaise with appropriate ministries and bodies responsible for collection or safe keeping of the Tax

  • Receive request and approve admit table projects after due consideration

  • Endure disbursement to various public tertiary education institutions in Nigeria

  • Monitor and evaluate execution of projects

  • Invest funds in appropriate and safe securities

  • Update the Federal Government on its activities and progress through annual audited reports among the states of the Federation in case of regular intervention

  • Review progress and suggest improvement within the provisions of the Act

  • Do such other things that are necessary or incidental to the objective of the Fund under these Acts or as may be assigned by the Federal Government

  • Make any issue guidelines, from time to time, to all beneficiaries on disbursement of monies from the Fund on the use of monies received from the Fund

  • Generally to regulate the administration, application and disbursement of monies from the Fund under this Act

The Board of Trustees shall administer, manage and disburse the tax imposed by this Act on the basis of:

  • Funding of all public tertiary educational institutions

  • Equality among the six-geo political zones of the Federal in case of special intervention

  • Equality among the states of the Federation in case of regular intervention

  • The distribution shall be on the ratio of 2:1:1 as between Universities, Polytechnics and College of Education.

  • The BOT shall have power to give due consideration to the peculiarities of each geo-political zones in the disbursement and management of the Tax imposed by this Act between the various levels of tertiary education.

TETFund Goals

  • To continuously improve Education Tax Revenue by ensuring that the tax is collected and made available for TETFund intervention programmes.

  • To deliver appropriate and adequate intervention programmes with due regard to the sensitivities of beneficiaries and stakeholders.

  • To promote cutting-edge technologies, ideas and organizational skills in education, and ensure that projects are forward-looking as well as responding to present needs.

  • To ensure successful completion of intervention projects.

  • To form a viable and enduring partnership between the TETFund and its stakeholders.

  • To manage Education Tax in a way that is most beneficial to the Nigerian people.

  • To recruit, retain, train and retrain a highly motivated workforce.

  • To plan, undertake research and create reliable databank for improvement of education in Nigeria.

  • To ensure accountability and transparency in all its undertakings.

Corporate Objectives

  • Provide funding for educational facilities and infrastructural development

  • Promote creative and innovatie approach to educational learning and service

  • Stimulate, support and enhance improvement activities in the educational fundation areas, like

  • Teacher Education, Teaching Practice, Library Development and Special Education Programmes

  • Champion new literacy enhancing programmes as scientific, information and technological literacy



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