The Tertiary Education Trust Fund (TETFund) has ruled out the possibility of including private universities in its intervention programmes, insisting that such institutions are profit-oriented ventures and therefore not entitled to government funding support.
A member of TETFund’s Board of Trustees representing the South-West, Mr. Adeyemi Adepoju, made this known during the inauguration of TETFund-sponsored projects at Rufus Giwa Polytechnic, Owo, in Ondo State, as part of activities marking the institution’s 12th–23rd convocation ceremonies.
Adepoju argued that while private university owners have the right to make such demands, their requests lack objectivity because private institutions are established to make profit. He likened the situation to a business owner demanding government assistance to fix infrastructure leading to their private enterprise simply because they pay taxes.
“If I establish a manufacturing company and the road to my factory is bad, will I ask TETFund to come and fix it because I pay taxes? That would make a mockery of the whole idea,” he said. “You set up your own business or institution based on your capacity and resources, not with the expectation that TETFund will fund you.”
He emphasized that TETFund’s resources are meant strictly for public tertiary institutions, which rely heavily on government subventions. Including private universities, he said, would compromise the integrity and sustainability of the Fund.
“Private universities are profit-driven and were established by individuals who claimed to have the financial capacity to operate them,” Adepoju noted. “Even if we wanted to include them, do you know how many private institutions exist in this country? It’s not practicable. They should explore other ways to generate revenue and manage their schools as expected.”
The projects inaugurated at Rufus Giwa Polytechnic include the Faculty of Applied Sciences Building and the Faculty of Engineering Technology Building, both constructed through TETFund support.
In his remarks, the polytechnic’s acting rector, Mr. Adegun Olorunwa, expressed gratitude to TETFund for its continuous intervention and contribution to the institution’s infrastructural and academic development since it became a beneficiary in 2011.
