The Chairman, Board of Trustees of the Tertiary Education Trust Fund, Kashim Ibrahim, has advised tertiary institutions in the country to train their staff locally due to the depreciation in the value of the naira.
Ibrahim gave the advice on Tuesday at the Federal College of Education (Technical) Asaba, the Delta State capital, during a review of beneficiaries of the PhD/Master’s Tetfund Scholarship Scheme.
He said, “The problem we are having now is naira depreciation. Tetfund places a premium on academic staff training and development.
“We are here to review our records on staff training and to interact with the management of institutions on the way to go in respect to foreign training.
“There is the need for various institutions to examine and evaluate the cost of staff training abroad and resolve to look inward for more staff to be trained locally given the challenge of the depreciating value of naira to foreign currencies in the country.
“In academic staff training and development, for the past 10 years, Tetfund has successfully trained more than 30,000 lecturers across the country for masters and PhD programmes locally and internationally.
“This year alone, the overall budget of Tetfund is about N300bn, and we have about 226 tertiary institutions in our records as of the last count, and we are counting more. For academic staff training and development, each university will access about N150m, polytechnic and colleges of education N120m each this year.”
Giving the breakdown, the Head, Academic Staff Training and Development of TETFUND disclosed that over N161bn had been spent on the training of 1,127 academic staff in PhD and master’s degree programmes in local institutions and abroad for the past 10 years.