TETFUND to Release N15 Billion for National Library Project
Higher Education Trust Fund (TETF funds) has set aside the first tranche of N15 billion to expedite the start of construction of the National Library of Nigeria construction project.
The Executive Secretary of TETFund, Sonny Echono, revealed this when he received in audience the executive members of the Nigerian Library Association, headed by its President, Professor Innocent Akocha, at his office in Abuja.
Work on the National Library had been stalled for years due to insufficient funding, with over N50 billion needed for its completion under current assessment requirements.
Echono said the fund has all the plans in place for the building’s completion, adding that it has made it known that it is ready to provide the funds to the ministry as soon as the Federal Executive Council approves it.
“For our part, we have set aside the first tranche of approximately 15 billion already in our coffers to be deployed as soon as the approval of the reverse cost is granted by the Federal Executive Council”, he further explained.
He highlighted the importance of the library saying, “For us in higher education, the library is where learning takes place, including research, teaching materials and resources that students access to learn. improve are all deposited for registration purposes. The library is usually the center of any academic institution.
The Executive Secretary commended the association for its tenacity in ensuring that the library receives proper recognition in national affairs and also for the various programs the association organizes to promote literacy and reading culture in Nigeria .
While responding to the association’s request on the upward revision of the funds, Arc Echono further stated that “when the new TETFund board is appointed, we will review your request and see how we reflect the convergence , because this is an area we try to give higher priority. I think that will mean a direct increase in library funding.
He reiterated that every academic institution should update its subscriptions to identify resources that would keep students on the cutting edge, noting more often that individual students have more up-to-date journals than departments or the institution, an anomaly that must change as the nation evolves. to adopt a knowledge-based society.
He further assured the delegation that TETFund would continue to partner with the association as the library is the only place that teaches all subjects.
In his remarks, Akocha informed the assembly that Arc. Echono, with the support of the Minister of Education, Mal. Adamu Adamu, spearheaded the initiative to complete the National Library Building through the deployment of TETFund resources, following Presidential approval.
He praised Echono and expressed his firm belief that he will bring his wealth of experience to his new assignment as Managing Director of TETFund. He recalled the year 2020 when the Executive Secretary received the association’s most prestigious award which is the highest honor given to non-librarians.
He appreciated the fund’s outreach activities, saying, “When it comes to higher education in this country, the TETFund is doing very well for us and we want to thank you. He further called on Arc Echono to use its position to push for an upward revision of the intervention of libraries in tertiary establishments for beneficiary establishments.