Close Menu
    What's Hot

    Afreximbank Invests $83bn in Nigeria, Positions Lagos for Growth

    June 8, 2026

    BNBUSD –Binance Coin Surges on Relief Rally in Crypto Market

    June 8, 2026

    SOL Climbs 5% on Huge USDC Mint on Solana Network

    June 8, 2026
    Facebook X (Twitter) Instagram
    • Home
    • About Us
    Facebook X (Twitter) Instagram WhatsApp
    MarketForces AfricaMarketForces Africa
    Subscribe
    Tuesday, June 9
    • Home
    • News
    • Analysis
    • Economy
    • Mobile Banking
    • Entrepreneurship
    MarketForces AfricaMarketForces Africa
    MarketForces Africa » MarketForces News » FG Releases N2.3bn to Varsity Unions to Clear Backlog Of Arrears
    News

    FG Releases N2.3bn to Varsity Unions to Clear Backlog Of Arrears

    Ogochukwu NdubuisiBy Ogochukwu NdubuisiOctober 29, 2025Updated:October 29, 2025No Comments3 Mins Read
    Share Facebook Twitter Pinterest Copy Link LinkedIn Tumblr Email VKontakte Telegram
    FG Releases N2.3bn to Varsity Unions to Clear Backlog Of Arrears
    Share
    Facebook Twitter Pinterest Email Copy Link

    FG Releases N2.3bn to Varsity Unions to Clear Backlog Of Arrears

    The Federal Government (FG) has released N2.3 billion to unions in the federal Universities to clear the backlog of arrears. The Federal Government has also reaffirmed its unwavering commitment to revitalising tertiary education sector through decisive fiscal interventions, policy reforms, and sustained dialogue with the Academic Staff Union of Universities (ASUU) and other university-based unions.

    The Minister of Education, Dr Tunji Alausa, disclosed this on Wednesday while providing updates on the government’s ongoing engagements with ASUU and other tertiary institution unions.

    Alausa emphasised that President Bola Tinubu remained resolute in his determination to resolve all lingering welfare and funding challenges in a transparent, fair, and sustainable manner.

    He said the released funds, processed through the Office of the Accountant-General of the Federation (OAGF), underscored the Tinubu administration’s commitment to clearing inherited backlogs and improving the welfare of academic and non-academic staff in tertiary institutions.

    “A total of ₦2.311 billion has been released through the Office of the Accountant-General of the Federation to universities. Benefiting institutions should begin to receive payment alerts anytime from now,” the minister announced.

    He also revealed that the Federal Government, through the Ministry of Finance and the OAGF, was finalising the release of third-party non-statutory deductions and pension remittances to NUPEMCO, expected to be completed in the coming days.

    He also disclosed that the Earned Academic Allowance (EAA) would be fully mainstreamed into university staff salaries beginning from 2026, ensuring prompt, predictable, and sustainable payments going forward.

    He further stated that funds had been released under the Needs Assessment of Nigerian Universities project, with corresponding budgetary provisions to sustain the initiative.

    The minister reaffirmed that these measures demonstrated the Federal Government’s strong commitment to improving academic staff welfare and addressing long-standing challenges that have persisted for decades.

    “Within the last 26 months, the Federal Government had paid a significant portion of outstanding obligations while maintaining open communication with all academic and non-academic unions of tertiary institutions,” he stated.

    Alausa assured that the government’s engagements with ASUU and other unions were being conducted “truthfully and in good faith”.

    He emphasised that while the government was committed to improving staff welfare, it would only enter into agreements that were realistic and financially sustainable.

    Alausa explained that the Yayale Ahmed Negotiating Committee continued to serve as a bridge between the Federal Government and tertiary institutions’ unions, ensuring that all the pending welfare-related issues were addressed through honest and mutually respectful dialogue.

    The minister stressed that the Federal Government would not engage in unsustainable fiscal practices. “Our priority is to ensure that all matters are addressed responsibly and in the best interest of our education system.

    “All commitments must align with approved budgetary provisions to guarantee long-term stability,” he said. Alausa commended Tinubu for his unwavering dedication to the education sector, noting that several challenges that had persisted for decades were now being addressed decisively under his administration. Nvidia’s $5 trillion Climb Exposes AI Boom’s Reality Gap

    ASUU FG
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email Telegram Copy Link
    Ogochukwu Ndubuisi
    • Website
    • Facebook
    • X (Twitter)
    • LinkedIn

    Ogochukwu Ndubuisi is an editorial content strategist and financial news writer at MarketForces Africa, covering a broad range of topics including Nigeria's equity markets, infrastructure development, energy, government policy, corporate finance, and digital economy.With over 2,400 published articles on MarketForces Africa, Ogochi brings depth and consistency to the publication's daily news coverage.Her reporting spans Nigerian Exchange Group market movements, Lagos State infrastructure projects, and federal government economic policies, oil and gas developments, and emerging sectors shaping Nigeria's economic landscape.She also covers Africa-wide stories, including East African market indices, continental investment trends, and cross-border economic developments.Ogochi works closely with MarketForces Africa's editorial and corporate communications teams to deliver accurate, timely, and well-researched content to the publication's professional readership.Ogochukwu Ndubuisi is based in Lagos, Nigeria.

    Related Posts

    News

    Afreximbank Invests $83bn in Nigeria, Positions Lagos for Growth

    June 8, 2026
    News

    BNBUSD –Binance Coin Surges on Relief Rally in Crypto Market

    June 8, 2026
    News

    SOL Climbs 5% on Huge USDC Mint on Solana Network

    June 8, 2026
    News

    FirstBank Breaches Capital Compliance Amidst Heavy Oil, Gas Lending

    June 8, 2026
    News

    Naira Trades Sideways as Market Digests CBN FX Manual

    June 8, 2026
    News

    IMF Approves Fresh Loan for Rwanda

    June 8, 2026
    Add A Comment

    Comments are closed.

    Editors Picks

    Afreximbank Invests $83bn in Nigeria, Positions Lagos for Growth

    June 8, 2026

    BNBUSD –Binance Coin Surges on Relief Rally in Crypto Market

    June 8, 2026

    SOL Climbs 5% on Huge USDC Mint on Solana Network

    June 8, 2026

    FirstBank Breaches Capital Compliance Amidst Heavy Oil, Gas Lending

    June 8, 2026
    Latest Posts

    Afreximbank Invests $83bn in Nigeria, Positions Lagos for Growth

    June 8, 2026

    BNBUSD –Binance Coin Surges on Relief Rally in Crypto Market

    June 8, 2026

    SOL Climbs 5% on Huge USDC Mint on Solana Network

    June 8, 2026

    FirstBank Breaches Capital Compliance Amidst Heavy Oil, Gas Lending

    June 8, 2026

    Naira Trades Sideways as Market Digests CBN FX Manual

    June 8, 2026

    Subscribe to News

    Get the latest sports news from NewsSite about world, sports and politics.

    About US
    About US

    MarketForces Africa is a financial information service provider with interest in media, training and research. The media platform provides information about markets, economies, and crypto, forex markets and investment ecosystem.

    Contact Us:
    Suite 4, Felicity Plaza, Freedom Estate Drive, Lagos-Ibadan Express Road, Magboro
    T: . 08076677707, 08052076440

    Facebook X (Twitter) Instagram Pinterest YouTube
    Latest Posts

    Afreximbank Invests $83bn in Nigeria, Positions Lagos for Growth

    June 8, 2026

    BNBUSD –Binance Coin Surges on Relief Rally in Crypto Market

    June 8, 2026

    SOL Climbs 5% on Huge USDC Mint on Solana Network

    June 8, 2026

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2026 Marketforces Africa
    • About
    • Contact us
    • Subscription Plans
    • My account

    Type above and press Enter to search. Press Esc to cancel.