N470bn has been provided as Special Fund in the 2023 budget for university revitalisation and upward adjustment of lecturers’ salaries.

Finance Minister, Zainab Ahmed made this known at a briefing in Abuja on Wednesday.

The Minster explained that the fund was provided specially in the allocation to education for upward adjustment of salaries for university lecturers and revitalization of universities.

N300bn is for university revitalisation while N170bn is for upward adjustments of salaries of lecturers.

According to her, the 2023 budget draft has been prepared on the background of international challenges such as the Russia-Ukraine war and COVID-19 pandemic, adding that revenue generation has been a major challenge to national development in the country.

On the allocations for critical sectors, she said the sum of 2.05 trillion naira is allocated to education and 1.58 trillion naira for health.

She added that 2.74 trillion naira is allocated to defense and security, infrastructure got 998.9 billion naira while social development and poverty reduction has 756 billion naira.

ASUU recently suspended their eight-month strike conditionally and some of the demands presented to government are now being addressed.

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