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The Federal Executive Council (FEC) has approved ₦118.3 billion to increase the existing contract for the completion of the National Library of Nigeria headquarters in Abuja.
The Minister of Education, Tunji Alausa, disclosed this on Wednesday while briefing State House correspondents after the FEC meeting presided over by President Bola Tinubu at the Presidential Villa.
Alausa said the approved amount would cover the construction work, while another ₦27 billion would be needed to furnish the completed facility.
He said construction began on April 29, 2006, with an expected completion period of two years. However, work stopped in October 2008, leaving the project unfinished for nearly two decades.
According to the minister, President Tinubu later directed the Ministry of Education to mobilise funds to revive the project, including support from the Tertiary Education Trust Fund (TETFund).
Alausa added that about ₦25 billion had been raised after First Lady Oluremi Tinubu dedicated gifts received during her last birthday celebration to the completion of the library.
He said the latest FEC approval would allow construction to resume in the coming months.
FEC Approves More Funding for Student Loans
The Council also approved measures to strengthen the funding of the Nigerian Education Loan Fund (NELFUND).
Alausa said President Tinubu directed that legally cleared funds recovered by the Economic and Financial Crimes Commission (EFCC), eligible unclaimed dividends and funds from dormant accounts be considered for transfer to NELFUND.
He stressed that only recovered funds without legal disputes would qualify. The Attorney-General of the Federation and relevant ministers were directed to review the legal framework governing the funds.
The minister said more than 1.2 million students were currently benefiting from NELFUND, with over ₦93 billion provided as student stipends and more than ₦250 billion paid as institutional fees to public tertiary institutions.
Suleja Academy Gets New Status
FEC also approved the conversion of Suleja Academy into an autonomous Academy for Gifted and Talented Children.
Alausa said the institution would have its own board and council and receive funding through government appropriations, endowments and donations.
The Council authorised the Attorney-General of the Federation to prepare an executive bill for submission to the National Assembly to establish the legal framework for the academy.
READ ALSO: National Library Will Be Nigeria’s Pride – First Lady
14 Universities to Get Entrepreneurship Programme
The Council further approved an entrepreneurship, innovation and business incubation programme for 14 federal universities.
The initiative will provide students with entrepreneurship training, digital certification, mentorship and business incubation support aimed at developing innovators, entrepreneurs and future job creators.
Alausa said the programme had already been tested at the University of Lagos and would initially be implemented in 14 federal universities before expanding to other tertiary institutions nationwide.
