The Federal Government has released the sum of N2, 617, 407, 407.22 to FUTO as the 2nd tranche of the N100 billion Special Presidential Intervention.
This Intervention fund is in fulfilment of the terms of the Memorandum of Understanding between the Federal Government and the Academic Staff Union of Universities signed by both parties on Wednesday, December 12, 2013 which stipulated the release of an intervention fund of N200 billion for the revitalization of the Public Universities in Nigeria.
This good news was conveyed to the Vice-Chancellor by letter Ref. FME/TE/CU/407/I dated February 11, 2014 issued by the Permanent Secretary, Federal Ministry of Education.
In his response to the development, the Vice-Chancellor disclosed that in consonance with the government directives, the fund will be dedicated to the following projects:
i. Renovation of existing students hostels.
ii. Construction of new students hostels.
iii. Construction of more Laboratories/Studios/
iv. Provision of more Teaching and Research Farms and Veterinary Teaching Hospitals.
v. Construction of more academic Staff offices
vi. Construction of more Classrooms/Seminar Rooms/Auditorium/Lecture Theatres.
vii. Provision of Municipal Services (Electricity/Water)
viii. Construction of more Recreational Facilities (Football/Sports Field etc)
ix. Capacity building/Staff Training
Prof. C. C. Asiabaka added that the University Management would initiate appropriate steps following due processes and procedures, towards fulfilling the conditions and requirements for accessing the funds.