The federal government has directed the management of federal higher education institutions to report financial statistics and academic capability by May 31, 2025.
Tunji Alausa, the Minister of Education, stated that all vice-chancellors, rectors, and provosts must provide their annual budgetary allocation, which includes their personnel costs, overhead costs, and capital expenditures.
The minister communicated this directive through a statement signed by Boriowo Folasade, the ministry’s spokesperson.
Alausa required school administrators to reveal information on their research grants “from foreign institutions, multilateral organisations, and development partners”.
The statement noted that institutions must include the findings received from TETFund.
“The directive further mandates that institutions publish the total value of their endowment fund as recorded at the end of the previous year,” the statement reads in part.
“This figure, which reflects funds donated or invested for the institution’s long-term financial health, must be updated quarterly to ensure currency and transparency.
Alausa requested that the institutions identify their present undergraduate and postgraduate student populations in order to “determine their enrolment and institutional capacity”.
The ministry noted that material must be published in a clear, accessible, and user-friendly format by May 31.
“Websites should be structured in a way that allows the public, including parents, students, and stakeholders, to easily locate and understand these data points,” it added.
“All federal institutions are expected to comply fully with this directive and ensure that their websites are completely updated.
Alausa said the ministry will conduct periodic reviews of institutional websites and punish non-compliant institutions.
“This policy is part of a broader reform initiative aimed at strengthening public trust in the nation’s tertiary institutions, enhancing performance-based funding, and improving Nigeria’s global education indices,” he added.
Discussion about this post