The Tertiary Education Trust Fund (TETFund) has announced the suspension of its foreign scholarship component for academic staff, effective January 1, 2025.
This decision, made by the Board of Trustees, is in response to escalating costs of foreign training and the rising incidences of scholars absconding during their programs.
Abdulmumin Oniyangi, TETFund’s Director of Public Affairs, confirmed on Thursday that the suspension would help mitigate the strain on Nigeria’s foreign exchange resources.
“The growing cost of education abroad and the increasing number of scholars absconding have made it difficult to sustain the program,” Oniyangi said. “The suspension is necessary to conserve foreign exchange and boost local academic capacity.”
However, scholars currently enrolled in foreign institutions will continue to receive funding until the completion of their programs.
TETFund aims to redirect resources into strengthening local institutions and increasing the number of beneficiaries within Nigeria.
The move aligns with the government’s broader initiative to promote local academic excellence and reduce dependency on foreign educational systems.
TETFund has intensified collaborations with the National Universities Commission (NUC) to implement the newly approved Trans-national Education Guidelines.
This initiative, supported by President Bola Ahmed Tinubu, encourages top universities from countries like the UK, USA, and Brazil to partner with Nigerian institutions, offering similar quality programs within Nigeria.
“We are confident that these partnerships will enhance the quality of education locally and ensure that Nigerian scholars have access to world-class training without leaving the country,” Oniyangi added.
TETFund is urging beneficiary institutions to prioritise their academic training needs within the country and comply with the new directives to help build a robust and self-sufficient educational system.