The Federal Executive Council (FEC) has approved ₦118.3b for the augmentation of the existing contract for the completion of the National Library of Nigeria headquarters complex in Abuja, nearly two decades after the project stalled.
The Minister of Education, Tunji Alausa, disclosed this while briefing State House correspondents on resolutions reached at Wednesday’s Federal Executive Council meeting at the Presidential Villa, Abuja.
Alausa said the approval covered the construction component of the project, while an additional ₦27 billion would be required to furnish the facility.
According to the minister, construction of the National Library commenced on April 29, 2006, with an initial two-year completion timeline, but work stopped in October 2008, leaving the project abandoned for about 18 years.
He said President Bola Tinubu subsequently directed the Ministry of Education to mobilise resources for the completion of the national edifice, including funding support from the Tertiary Education Trust Fund.
Alausa also disclosed that about ₦25 billion was raised towards the project following the decision of the First Lady, Oluremi Tinubu, to dedicate gifts received during her last birthday celebration to the completion of the library.
The minister said the latest FEC approval cleared the way for work to resume on the project in the coming months, bringing the long-delayed National Library closer to completion.
On education financing, President Tinubu directed that legally cleared funds recovered by the Economic and Financial Crimes Commission (EFCC), alongside eligible unclaimed dividends and funds from dormant accounts, be channelled to the Nigerian Education Loan Fund (NELFUND) to strengthen its funding capacity.
Alausa said only recovered funds free from legal disputes would qualify for transfer, with the Attorney-General of the Federation and relevant ministers mandated to examine the legal framework governing the funds.
He said more than 1.2 million students were benefiting from NELFUND, with over ₦93 billion disbursed as student stipends and more than ₦250 billion paid as institutional fees to public tertiary institutions.
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The Council also approved the transformation of Suleja Academy into an autonomous Academy for Gifted and Talented Children to identify and nurture exceptional young Nigerians.
Alausa said the institution would operate with its own board and council, while its funding sources would include government appropriation, endowments and donations.
FEC further authorised the Attorney-General of the Federation to prepare an executive bill for transmission to the National Assembly to provide the legal framework for the academy’s transformation.
The Council also approved the deployment of an entrepreneurship, innovation and business incubation programme in 14 federal universities to equip students with the skills required to become innovators, entrepreneurs and job creators.
The technology-driven programme will provide entrepreneurship and enterprise-development training, digital certification, mentorship and business incubation support.
Alausa added that the initiative, which had been tested at the University of Lagos, would initially cover 14 federal universities before being extended to other tertiary institutions across the country.
