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ASUU Raises Concern Over Stabilisation Fund

ASUU Raises Concern Over Stabilisation Fund

President of the Academic Staff Union of Universities (ASUU), Nasir Isa Faggae suggested on Monday in Abuja that the union might renew agitations for increase in the stabilisation fund meant to augment and support critical needs of universities.

Faggae who spoke at the public presentation of sponsored journals of professional associations by the Tertiary Education Trust Fund (TET Fund) said the union was not particularly happy with the implementation of that agreement by federal government.

The stabilisation fund has been a bone of contention between government and ASUU especially in 2004 when former minister of education, Professor Babalola Borishade was alleged to have diverted N600 million interest accrued from the fund to purchase a property.

Faggae who said the stabilisation fund was not “faring well” added that Nigerian universities would remain poorly ranked internationally if it does not tackle the problem of research.

Responding to comments by the ASUU President on the stabilisation fund, Executive Secretary of the National Universities Commission (NUC) Professor Julius Okojie said the fund has paid for the recent visitation panels to universities and institutional accreditation exercise.

Okojie said he agreed that when there is another round of negotiations between federal government and ASUU more funding should be released as it sustains the university system.

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