The Tinubu-led federal government has directed all federal higher institutions to disclose their financial records and academic capacity details by May 31, 2025. Education Minister Tunji Alausa announced that vice-chancellors, rectors, and provosts must release their annual budget breakdown, including personnel expenses, overhead costs, and capital expenditures
This directive was conveyed through a statement signed by Boriowo Folasade, the ministry’s spokesperson.
According to the statement, institutions are also required to disclose:
- Research grants received from foreign institutions, multilateral organizations, and development partners.
- Funds allocated by the Tertiary Education Trust Fund (TETFund).
- Total value of endowment funds, updated quarterly for transparency.
- Current student population for undergraduate and postgraduate programs
“The directive further mandates that institutions publish the total value of their endowment fund as recorded at the end of the previous year,” the statement reads.
“This figure, which reflects funds donated or invested for the institution’s long-term financial health, must be updated quarterly to ensure currency and transparency.”
Alausa also instructed institutions to disclose their current student population for both undergraduate and postgraduate programs, aiming to assess enrolment levels and institutional capacity.
The ministry emphasised that this information must be presented in a clear and easily accessible format before the deadline.
“Websites should be structured in a way that allows the public, including parents, students, and stakeholders, to easily locate and understand these data points.
“All federal institutions are expected to comply fully with this directive and ensure that their websites are completely updated,” the statement added.
Alausa warned that institutions failing to meet this requirement would face penalties, as the ministry plans to conduct periodic reviews of institutional websites.
“This policy is part of a broader reform initiative aimed at strengthening public trust in the nation’s tertiary institutions, enhancing performance-based funding, and improving Nigeria’s global education indices,” he stated.