The Federal Government has issued a directive compelling all federal universities, polytechnics, and colleges of education to make public their financial statements and academic data no later than May 31, 2025.
Dr. Tunji Alausa, the Minister of Education, gave the order through a statement released by the ministry’s spokesperson, Boriowo Folasade.
According to the directive, vice-chancellors, rectors, and provosts must publish detailed information regarding their annual budgets, including personnel, operational, and capital expenses.
The government also instructed institutions to disclose the value of their research grants, particularly those received from international organisations and development agencies.
Additionally, they must reveal funds obtained from the Tertiary Education Trust Fund (TETFund) and report the total value of their endowment funds as of the previous year.
To promote accountability, Alausa stated that the endowment figures must be updated every quarter.
Institutions are also required to display current enrollment statistics for both undergraduate and postgraduate programs.
Furthermore, all this information must be easily accessible on official websites, ensuring transparency for students, parents, and the public.
Alausa warned that schools failing to meet these requirements will face sanctions, as the ministry plans regular inspections of institutional websites to enforce compliance.